Please enable JavaScript in your web browser settings, under the site permissions section to unlock full site functionality. Click here for help.

Article Image - Blackstone Acquire Office Building in London for $400m

Posted 1st April 2015

Blackstone Acquire Office Building in London for $400m

Blackstone Group LP, the world’s largest private-equity investor in real estate, agreed to buy an office building in the City of London financial district for $400 million from Land Securities Group Plc.

Scroll to keep reading

Blackstone Acquire Office Building in London for $400m

Blackstone Acquire Office Building in London From Land Securities

View Biography

Acquirer

Land Securities has exchanged contracts to sell its 95% stake in Times Square, London, EC4, to real estate funds managed by Blackstone for £268.4 million. Completion will be at the end of July.

The 380,000 sq ft office building at 160-162 Queen Victoria Street is fully let to six office tenants, including Bank of New York Mellon and law firm Dechert, until 2023.

Colette O’Shea, Managing Director, London Portfolio at Land Securities, said: “We’ve recently carried out some lease regearing activity at Times Square, and its sale reflects our strategy of recycling capital into our significant development programme.”

Anthony Myers, Head of Real Estate Europe at Blackstone, said: “This is our fourth investment in London as part of Blackstone Property Partners’ Core strategy, following the most recent acquisition of 125 Old Broad Street. Times Square fits the Core strategy extremely well as a high quality, well-leased asset in the centre of a global gateway city.”

Strutt & Parker acted on behalf of Land Securities and BNP Paribas advised Blackstone.

Categories: Finance, M&A

You Might Also Like

Overlooked Employee Issues When Acquiring a New Company

06/12/2021Overlooked Employee Issues When Acquiring a New Company

Overlooked Employee Issues When Acquiring a New Company Following the acquisition of a new company, there are tons of things that managers and human resources need to think about and do. In turn, that can mean many employee issues become overlooked. Don’t fo

DXCorr Design Inc. Architect in Embedded Physical IP

02/08/2022DXCorr Design Inc. Architect in Embedded Physical IP

A pioneer in the semiconductor industry, DXCorr design is a product based semiconductor company that facilitates SoC design solutions with in-house IPs, incorporating complex memory SRAMs, CAMs, Multiports, memory subsystems, and standard cells.

6 Forms of Technology That Are Streamlining Healthcare Provision in 2023 and Beyond

24/05/20236 Forms of Technology That Are Streamlining Healthcare Provision in 2023 and Beyond

The healthcare industry is experiencing a major transformation with the introduction of new technologies. New technology is changing how we access and deliver healthcare services, from electronic health records to telemedicine.

How To Start A Business From Home

31/08/2022How To Start A Business From Home

When starting a business from home, there are a lot of factors to consider. We have broken down the top things to think about when getting started.

George Pelgrim on Sustained Business Growth in Sint Maarten

18/07/2024George Pelgrim on Sustained Business Growth in Sint Maarten

By George Pelgrim, Sint Maarten based entrepreneur and businessman Developing a Long-Term Vision for Business Growth In the dynamic economic landscape of Sint Maarten, the importance of developing a long-term vision for business growth cannot be overstated. Ge

Proptech On the Rise As Residential and Commercial Real Estate Investors Look to Battle Inflationary Pressures and Rising Interest Rates, Reveals Hampleton Partners

09/11/2022Proptech On the Rise As Residential and Commercial Real Estate Investors Look to Battle Inflationary Pressures and Rising Interest Rates, Reveals Hampleton Partners

The Proptech M&A Market Report from Hampleton Partners, the international M&A and corporate finance advisory firm for technology companies, reveals that the first half of 2022 saw 55 property technology (Proptech) deals, 57 per cent up on 1H2020 and 12 per cen

Successful Consumer Analytics Equals Successful Digital Marketing

27/03/2023Successful Consumer Analytics Equals Successful Digital Marketing

It’s an exciting time to be a marketer, but it’s also a challenging time in the industry. Knowing what mediums to focus on and where to spend your marketing budget is no simple task.

Copper sees continued industry momentum in CRM market across small and medium businesses

28/11/2019Copper sees continued industry momentum in CRM market across small and medium businesses

Copper, a Google Cloud-recommended CRM for G Suite, has announced continued industry momentum following a flurry of new customer wins across small and medium businesses, in a year where the brand also raised $15M in Series C funding and appointed new CEO Denni

What lessons has the pandemic taught us about the fluidity of labour in the run up to Brexit?

25/11/2020What lessons has the pandemic taught us about the fluidity of labour in the run up to Brexit?

So much time and angst has been spent on the B word since May 2016, much of it around the issue of fluidity of labour across borders. But what this year has shown is that technology and talent refuse to recognise borders: try building a wall in the cloud. So m

View More Articles

Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

MORE BRANDS