Transactions - MAY 10, 2017

Blackstone places historic dock on the market

by Andrea Waitrovich

The Blackstone Group has placed St. Katharine Docks scheme near Tower Bridge and the Tower of London on the market.

The sales price is estimated to be £435 million ($563 million), according to media outlets.

The redeveloped port dates back to 1828. Recently, the refurbishment of St Katherine Docks in London has been completed and the marina can accommodate yachts up to 131 feet.

The Blackstone Group acquired the site in late 2014 for £448 million ($580 million) from Max Property Group.

The initial works started in spring last year, and improvements include a new modern layout with 170 berths, new pontoons and new services.

CBRE and GM Real Estate are advising Blackstone on the sale.

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