Blackstone to buy two more assets in London
The Blackstone Group has acquired one office property in London and is planning to purchase another, for a total of £489.5 million ($829.5 million) in sales price.
The firm paid approximately £320 million, or £1,067 per square foot ($547.3 million/$1,824 per square foot) for the 300,000-square-foot office at 125 Old Broad St. The seller was Brookfield Property Partners, and GM Real Estate represented the seller.
Brookfield Office Properties, which was acquired by Brookfield Property Partners in June 2014, became the sole owner of the property in 2013, after acquiring the remaining 50 percent from its partner GE Capital Real Estate and Bank of Ireland. The prop