Transactions - NOVEMBER 8, 2016

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Blackstone to acquire OfficeFirst Immobilien

by Andrea Waitrovich

Blackstone Real Estate Partners Europe IV has agreed to acquire OfficeFirst Immobilien AG, a leading office-focused German real estate business, from IVG Immobilien AG.

OfficeFirst controls a 15 million-square-foot predominantly office portfolio, the vast majority of which is located in Germany’s top six office markets — Munich, Berlin, Frankfurt, Hamburg, Dusseldorf and Stuttgart.

Blackstone’s current office portfolio in Germany totals almost 430,000 square feet and includes high-quality assets in Frankfurt, Berlin, Hamburg, Munich and Dusseldorf.

Blackstone Real Estate Partners Europe IV closed in 2014 with €5.1 billion ($5.6 billion). In June, Blackstone Real Estate Partners Europe IV acquired the Blanchardstown Center,one of Ireland’s leading retail and leisure destinations

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