Seeking Alpha

Reports: Blackstone looks to sell six Boston properties for $2.5B

  • Blackstone (BX) is reportedly in discussions to sell six office properties in the Boston area for $2.5B, with potential buyers including MetLife (MET).
  • Separately, Blackstone has agreed to acquire a 49% holding in an office property in San Francisco called One Market Plaza in a deal that values the two-tower complex at just over $1.2B. Blackstone is purchasing the stake from Paramount Group, which will continue to own the rest of the property.
  • The deal is Blackstone's second in what it considers core and core-plus real estate, which refers to low-risk, well-leased buildings in major markets that provide a stable return.
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