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Though Blackstone Group won the auction for Swedish pension manager Alecta’s US real estate portfolio, Goldman Sachs was the original winner of the $1.8B deal before the transaction fell through following disagreements on the terms.
Initially, Goldman Sachs was awarded Alecta’s US and UK properties and was given a week to research the assets and discuss terms. But during the time allotted disagreements arose prompting Alecta to instead sell the US properties to Blackstone, Bloomberg reports.
The 22 properties are predominantly retail and office buildings, and include Lakeshore Plaza, a shopping center in S.F.’s Sunset District, and 815 Connecticut Ave NW in DC, an office building close to the White House. [Bloomberg]
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