Transactions - JULY 22, 2014

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Blackstone buys Max Property Group for $764m

by Andrea Waitrovich

Max Property Group has announced the disposal of its entire property business to Marina Topco, a company controlled by Blackstone Real Estate Partners Europe IV and its affiliates, in a deal valuing the group, before exit costs, at £447.7 million ($763.8 million).

In March, Blackstone Real Estate Partners Europe IV raised $7 billion for its fourth European real estate fund, making it one of the largest dedicated European real estate funds. The opportunistic-style fund closed about six months after it launched. 

The transaction follows The Blackstone Group raising an additional $660 million since June

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