Blackstone exits London property in $2.8B deal

Blackstone (BX) has agreed to sell its 50% stake in London's Broadgate office and retail complex to Singapore's sovereign wealth fund, GIC, for £1.7B ($2.8B).

Blackstone looks like it will make a tidy profit from the investment: the U.S. private-equity firm bought the holding in the 30-acre site, which is in London's City financial district, from British Land (BRLAF) four years ago in a deal that valued the complex at £2.1B. British Land has continued to hold the other 50%. (PR)

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs