Blackstone (BX) is seeking to sell a London office park for $1.3B, about 67% more than it paid...

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

Blackstone (BX) is seeking to sell a London office park for $1.3B, about 67% more than it paid for the property just 18 months ago, say sources. Since the purchase, Blackstone has cut the vacancy rate to 1% from 9% and has begun work on building additional space. Average rents in the area have risen about 28% as well.