Blackstone Contemplating Buying German Landlord OfficeFirst
Blackstone Group may soon bid to purchase German landlord OfficeFirst, which has $3.6B worth of commercial properties.
The sale of OfficeFirst, owned by IVG Immobilien AG, would table the company's planned IPO, a person close to the deal told Bloomberg. The public offering was planned for as early this month, during which the company hoped to raise a little over $1M.
The landlord’s largest asset is its Squaire office and hotel at the Frankfurt airport, known for its ship-like design. And the world’s largest private equity firm also owns Frankfurt towers, including Germany’s second-tallest skyscraper—the Messeturm. [Bloomberg]