Blackstone Hopes To Profit From Growing Dutch Economy
Blackstone is planning to sell its office properties in the Netherlands and ride the tide of the rising Dutch economy.
The world’s largest manager of alternative assets hired CBRE Group to market the properties, some of which are in Amsterdam and Utrecht, for over $550M, Bloomberg reports. The sale comes just as the growing Dutch economy is boosting demand for office space, pushing property values up.
Those values have risen high enough that Blackstone’s decided it’s time to sell—office lease signings shot up 5% last year and investment volumes spiked over 3% to $4.18B. This month Blackstone also closed on the purchase of a $1B mall in Dublin, Ireland, ramping up its holdings in Europe. [Bloomberg]