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Sovereign Wealth Funds Briefing - Categorized | Investment

GIC buys 50pct of Broadgate from Blackstone in British Land tie-up

Posted on 30 December 2013

GIC Pte bought Blackstone Group LP’s 50 percent stake in London’s Broadgate office complex in the latest overseas acquisition for the Singapore sovereign wealth fund as it seeks stable returns from real estate.
GIC purchased the cluster of 17 office buildings, shops and restaurants, which spans 4.7 million square feet in the City of London’s financial district, according to a statement by GIC and Blackstone today. New York-based Blackstone agreed to sell the stake for more than 1.7 billion pounds ($2.8 billion), Bloomberg News reported on Aug. 20………………………………………..Full Article: Source


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