Blackstone buys Max Property Group for $764m
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