• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Mortgages
    • Taxation
  • Fintech
  • Regulation
  • In Depth
  • Special Reports
  • Video
  • Directory
  • Advertise with us
  • Events
  • Middle East Hub
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Events
    • Upcoming events
      View all events
  • Middle East Hub
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • In Depth
  • Special Reports
  • Video
  • Directory
  • Mortgages

Blackstone acquires €1.9bn of European property

Blackstone acquires €1.9bn of European property
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

US-headquartered investment firm Blackstone and financial services group Wells Fargo have signed agreements to buy most of the assets of GE Capital Real Estate. The transaction cost around $23bn (€21.8bn).

Blackstone’s European real estate fund, BREP Europe IV, has agreed to purchase the European equity real estate assets, for €1.9bn. These consist of office, logistics and retail assets, largely in the UK, France and Spain.

Related articles

  • La Française Real Managers launches European commercial property fund
  • PEOPLE MOVES: Willis Towers Watson, Invesco Real Estate, Alcentra, Interactive Investor
  • Rockspring hires Lionel Nicolas as director France
  • Hermes relaunches Real Estate debt fund

“The logistics assets will be integrated into Blackstone’s European logistics platform, Logicor, and the retail assets into its European retail platform, Multi,” said Blackstone.

In the meantime,  Wells Fargo will purchase commercial mortgages valued at $9bn (€8.52bn) in the United States, UK and Canada.

Blackstone’s latest flagship global real estate fund, BREP VIII, will buy the US equity assets for $3.3bn (€3.1bn). It includes office properties in Southern California, Seattle and Chicago.

BREDS, Blackstone’s real estate debt fund, will acquire performing first mortgage loans in Mexico and Australia for $4.2bn (€3.98bn).

Finally, BXMT, Blackstone’s publicly traded commercial mortgage REIT, has agreed to purchase a $4.6bn (€4.36bn) portfolio of first mortgage loans primarily in the US with Wells Fargo providing the financing.

Mark Myers, head of Commercial Real Estate for Wells Fargo, said : “The portfolio of performing loans we’ve purchased is a strong addition to our commercial real estate platform in the United States, the United Kingdom and Canada, which are all active lending markets for us.”

Jon Gray, global head of Real Estate for Blackstone, commented : “This transaction clearly demonstrates the unique scale and reach of our real estate platform.”

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Mortgages
  • US
  • Blackstone
  • Europe
  • Real Estate
  • United States
  • Wells Fargo

More on Mortgages

Australian watchdog cancels AFS licence of Southern Mortgages

  • Mortgages
  • 08 November 2019
Tesco sells mortgage portfolio to Lloyds in £3.8bn deal

  • Mortgages
  • 03 September 2019
HSBC to lend extra £35bn to UK home buyers as mortgage approvals hit two-year high

  • Mortgages
  • 02 September 2019
HSBC Singapore launches new int'l mortgage solution

  • Mortgages
  • 07 August 2019
Deutsche Bank Wealth Management enters UK mortgage market

  • Mortgages
  • 30 May 2019
Back to Top

Most read

Saudi Arabia to offer citizenship to 'brilliant' individuals
Saudi Arabia to offer citizenship to 'brilliant' individuals
France puts Bahamas and Seychelles on its tax haven blacklist
France puts Bahamas and Seychelles on its tax haven blacklist
Goldman Sachs to offer wealth management from $5,000
Goldman Sachs to offer wealth management from $5,000
Julius Baer ordered to repay CHF153m by Swiss court
Julius Baer ordered to repay CHF153m by Swiss court
Australia bank watchdog weighs action against scandal-hit Westpac
Australia bank watchdog weighs action against scandal-hit Westpac
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading