Simpson Thacher Represents Blackstone in Sale of Its Interest In the Charter Oak Portfolio To an Affiliate of Tanger Factory Outlet Centers Inc. for $282.5 Million
09.13.05
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The Firm represents The Blackstone Group in its $282.5 million cash sale of its two-third interest in the Charter Oak Portfolio to an affiliate of Tanger Factory Outlet Centers Inc. The Charter Oak Portfolio consisting of nine factory outlets centers throughout the country was acquired by an affiliate of Blackstone Real Estate Acquisitions IV L.L.C. and an affiliate of Tanger Factory Outlet Centers Inc. in December 2003. The transaction is scheduled to close in October 2005.
The Simpson Thacher team working on the transaction includes: Greg Ressa, Steve Stickler, Sas Mehrara and Caylin Deblasio (Real Estate); and John Hart and Nancy Mehlman (Tax).