Blackstone Negotiating A $1.8B Deal With Swedish Pension Manager For US Real Estate Holdings
Blackstone, the world's largest private equity firm, is in the midst of a $1.8B deal to buy the US real estate portfolio of Swedish pension manager Alecta, according to a person with knowledge of the deal.
The deal consists mainly of retail and office properties, including 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 reports.
Alecta is in the midst of jettisoning its foreign real estate holdings—the $85B pension fund hired JLL to sell a portfolio of 48 properties in the US and UK earlier this year. [Bloomberg]