Dec. 24, 2013, 5:37 AM
- 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)
BRLAF vs. ETF Alternatives
British Land Company PLC invests, both directly and through joint ventures, in income-producing and freehold commercial properties in order to maximize their growth and potential. The company trades, finances and develops property. Their portfolio consists of offices, retail superstores,... More
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