The agreement was between Blackstone Real
Estate Partners VII and 233 South Wacker Drive LLC.
Its previous fund, Blackstone Real
Estate Partners VII, which raised $ 13.4 billion in 2012, reported a net internal rate of return of 27 percent as of the end of December.
The buildings are all managed by Equity Office and are owned in a joint - venture partnership led by an affiliate of Blackstone Real
Estate Partners VII and SL Green Realty Corp (NYSE: SLG).
Blackstone Real
Estate Partners VII, a real estate fund managed by Blackstone on behalf of its investors, will own 95 percent of the common equity of the joint venture and an affiliate of DDR will own the remaining 5 percent.
At the same time, affiliates of Blackstone Real
Estate Partners VII completed the acquisition of the remaining 67 percent interest in the venture from affiliates of UBS Wealth Management North American Property Fund.
And it's potentially on the verge of getting even larger with the announcement earlier this week that Blackstone Real
Estate Partners VII entered into an agreement to acquire 36 shopping centers containing 3.9 million square feet from Equity One Inc. for $ 473.1 million.
Starwood Property Trust originated a $ 126 million first mortgage and mezzanine loan on behalf of Blackstone Real
Estate Partners VII for 100 Montgomery, a 20 - story, 420,000 - sq.
Not exact matches
The intention is to create a European leader in the real -
estate services sector and EQT will invest in the company accordingly,» said Dr Andreas Aschenbrenner, Partner at EQT
Partners, and Investment Advisor to EQT
VII.
A Joint Venture Between Affiliates of Lubert - Adler Real
Estate Fund
VII and Chelsea Hospitality
Partners Enter Into an Agreement for the Operation...