Blackstone to buy Max Property for $707M

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Blackstone (NYSE:BX) has agreed to buy U.K real estate business Max Property for £414M ($707M) in cash. Max Property focuses its operations on property flipping - reselling buildings at a profit after renovations or improvements.

The acquisition will be executed by Marina Topco, a group controlled by Blackstone Real Estate Partners Europe.

Currently, Blackstone manages $80.4B of total real estate assets, including about $10B of debt.