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Report: Blackstone to finalize A$3.5B retail portfolio sale mid-July

Blackstone Group LP is expected to close the sale of its Australian retail platform worth A$3.5 billion by mid-July, The Australian Financial Review's Street Talk reported.

Shortlisted bidders for the portfolio will also be advised within the week ending June 10 to finalize their tender proposals, according to the June 6 report. The first round of bidding for the portfolio ended May 31.

Included in the parties mentioned earlier as being interested in the 10-asset portfolio are AMP Capital, Lendlease Corp. Ltd. and Charter Hall Group. Another name floated was China Investment Corp., which recently signed a €12.25 billion deal to buy Blackstone's pan-European logistics company, Logicor.

UBS, JP Morgan and JLL Australia have been tasked to oversee the sale of the properties.

As of June 5, US$1 was equivalent to A$1.34.