An affiliate of Blackstone Real Estate Partners VII has agreed to acquire a portfolio of 82 buildings in suburban regions for $1.08 billion. The division of private equity firm BlackStone Group will buy the 10.1 million square foot portfolio of office properties from Duke Realty Corp.

The Suburban Office Portfolio, which includes most of Duke’s wholly-owned suburban office properties in Atlanta, Chicago, Columbus, Dallas, Minneapolis, Orlando and Tampa, is 84.6 percent rented. The transaction, subject to some routine terms, is scheduled to close on or about December 1.

Click here for the release from Market Wire.