Taubman Centers (TCO) Misses Q4 EPS by 8c, Revenues Miss; Offers FY19 EPS Guidance Above Consensus
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UPDATE: Taubman Centers (TCO) Reports Agreement to Sell 50% Interest of Three Asia Shopping Centers to The Blackstone Group LP (BX) for $480M
February 14, 2019 7:36 AM EST(Updated - February 14, 2019 7:36 AM EST)
Taubman Centers, Inc. (NYSE: TCO) has announced agreements to sell 50 percent of Taubman Asias interests in three Asia-based shopping centers to funds managed by The Blackstone Group L.P. (NYSE: BX). Blackstone will be making this investment through its Asia Core+ real estate investment unit. The investment unit targets substantially stabilized office, logistics, residential and retail assets in high quality Asian geographies and gateway cities. The interests are valued at $480 million. The transactions are subject to customary closing conditions and are... More
