Blackstone to capitalize on Brexit by selling two Paris properties

The two office buildings are going for $410 million

Oct.October 07, 2017 08:56 AM

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

Related Articles

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

Jonathan Gray

Moving out: Blackstone sells remaining stake in Invitation Homes

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

John Legere (Credit: Getty Images)

WeWork reportedly in talks to hire T-Mobile exec as CEO

Clockwise from left: 135 S. Lasalle, 115 S. Lasalle, 400 S. Lasalle (Credit: Google Maps)

Chicago office landlords must solve a 2M sf problem before it’s
too late

(Credit: iStock)

Small Talk: Every community meeting. About every development project. Ever.

In the third quarter of 2019, nine sales totaling $587 million closed in the central business district (Credit: iStock)

Chicago’s ice-cold office market is finally heating up. But don’t get too excited