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Real Estate Briefing - Categorized | Finance, M&A more

BofA may sell Merrill Property for $1 bln

Posted on 17 August 2011

Bank of America Corp. (BAC), the largest U.S. bank by assets, is in talks to sell real estate investments held by its Merrill Lynch unit to Blackstone Group LP (BX) for as much as $1 billion, said a person with knowledge of the matter.
The assets include properties in Europe, the U.S. and South America, said the person, who asked not to be identified because the negotiations are private. Bank of America in July 2010 hired Blackstone to manage Merrill’s Asian real estate investments while retaining ownership in what was a $2 billion private- equity fund……………………………………….Full Article: Source


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