Blackstone sells London office for £285m, markets Australia assets

Blackstone has been making headlines and continues selling its assets.

Blackstone Real Estate Partners Europe III, a €3.1 billion ($3.7 billion) fund managed by Blackstone, has sold Lacon London, 84 Theobalds’s Road WC1 to an undisclosed private investor for £285 million ($367 million).

The fund acquired the 220,885-square-foot multi-let office building in July 2013 and undertook a comprehensive refurbishment and repositioning of the building.

Separately, Blackstone has plans to sell several offices in Sydney, Brisbane and Adelaide, according to The Australian.

The offices include the 127 Creek Street in Brisbane’s central business district, 1 Castlereagh Street tower in Sydney and 80 Grenfell Street in Adelaide.

The expected sales price Blackstone aims to gain is approximately A$600 million ($480 million).

Recently, the firm sold a real estate fund called Kensington, which comprises two office properties in Milan, to Allianz Real Estate, and the Simply Hotels Group to Mata Capital.

In June, Blackstone sold its pan European logistics company, Logicor, to affiliates of China Investment Corp. for €12.25 billion ($13.8 billion).

On its acquisitions side, Blackstone recently acquired a majority stake in Banco Popular S.A. And Astro Japan Property Group entered into agreements with Jetsons Holdings, an entity that is incorporated in Singapore by funds managed by Blackstone.

In July Blackstone announced that funds managed by Blackstone Real Estate Partners and Blackstone Tactical Opportunities entered into a definitive agreement to acquire International Market Center.

In June Blackstone signed a deal to acquire Singapore-listed Croesus Retail Trust for S$900.6 million ($652 million) and Finnish real estate firm Sponda for €1.76 billion ($1.98 billion).