Blackstone to sell Broadgate stake

Blackstone to sell Broadgate stake

The Singapore sovereign wealth fund is reported to be buying half of the Broadgate office estate in the City of London for £1.7bn in what is set to be the largest single property deal in UK real-estate history. The seller is Blackstone(US:BX), the US private equity group, which bought its stake in the 15-building City complex for £1.07bn in September 2009.British Land(BLND), the real-estate investment trust that pieced Broadgate together in the 1990s slump, controversially offloaded its 50 per cent stake to reduce its debt load at what turned out to be the trough of the property crash.

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