US private equity firm Blackstone is in exclusive talks to acquire the 42,700 m2 Broadgate Quarter office complex in London for £415 mln (€576 mln), according to UK trade publications Estates Gazette and Property Week.
US private equity firm Blackstone is in exclusive talks to acquire the 42,700 m2 Broadgate Quarter office complex in London for £415 mln (€576 mln), according to UK trade publications Estates Gazette and Property Week.
Assuming a transaction is finalised the investment volume would reflect a net initial yield of 4.95%. This would be lower than the £455 mln, or 4.5% yield, previously agreed between the vendors, Hines and HSBC Alternative Investments, and a Chinese investor. That deal collapsed last month when the buyer abruptly pulled out.
Knight Frank and Cushman & Wakefield marketed the building for the vendors.
None of the parties said to be involved have publicly confirmed the transaction.