Blackstone is planning to purchase U.K. office park, Chiswick Park, for about £480 million, including the assumption of debt, Financial Times reports. The private equity group has outbid other opportunity funds, including London & Stamford and Moorfield, which were interested in the auction.
As part of the deal, Blackstone will also acquire the vehicle that owns the campus, consisting of U.K. and Canadian pension funds, and is managed by Schroders, Aberdeen Property Investors and Stanhope. Savills and CB Richard Ellis are acting as advisors for the transaction.
Click here for the story from Financial Times.
Click here for the additional coverage from The Telegraph.