March 2004 The Lightstone Group brought the 657,000-square-foot Dakota Square Mall in Minot, ND, for about $56 million from a Blackstone/Polaris joint venture. The mall generates about $140 million a year. And Thor Equities paid $180 million for the 1.3 million-square-foot Tri-Country Mall in Cincinnati, JC Penney will be empty A Blackstone spokesman says the sale of so many malls in a short period is "a coincidence' and shouldn't be taken as a trend" We saw some good opportunities a few years back, and now we're realizing the results," the spokesman says. Blackstone will continue to invest in retail "if it's a good deal."

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