The Real Deal New York

Blackstone to capitalize on Brexit by selling two Paris properties

The two office buildings are going for $410 million
October 07, 2017 08:56AM

The largest real estate manager in the world, Blackstone Group is looking to sell two Paris properties. (Pixabay, front/ University of Miami, left/ Taxiarchos228, back)

The largest real estate manager in the world, Blackstone Group is looking to sell Paris properties to investors fleeing London’s Brexit uncertainty.

Led by Jonathan Gray, Blackstone is reportedly selling two Paris office buildings for $410 million in a bid to appeal to increasing demand following Brexit, according to Bloomberg News.

Announcement of the sale comes almost a month after Blackstone puts several of its London properties on the market, including the Katharine Docks and Cannon Bridge House at 25 Downgate Hill. The properties’ asking price at the time was a combined $893 million. The listings came just after the group finalized the sale of London’s Lacon House office for $376 million.

[Bloomberg News] — E.K. Hudson