Glimcher Realty Trust (NYSE: GRT) has closed on its previously announced $320 million joint venture with The Blackstone Group; which involved Blackstone acquiring a 60% interest in Glimcher's Lloyd Center Mall in Portland, OR and Westshore Plaza in Tampa, FL. Glimcher retains a 40% interest and continues to manage the malls. Terms of this transaction and details on the properties follow below. As intended, Glimcher used its $60 million in proceeds to pay down its existing credit facility, bringing that outstanding balance to $232 million.