Blackstone's Equity Office buys Hughes Center in Las Vegas

NEW YORK, Sept 20 Fri Sep 20, 2013 3:27pm EDT

NEW YORK, Sept 20 (Reuters) - Equity Office Properties, a subsidiary of Blackstone Group LP, on Friday said it bought Hughes Center, a portfolio of 10 office buildings, in Las Vegas for $347 million.

The acquisition of the 1.4 million square-foot campus comes out of Blackstone Real Estate Partners VII, the private equity group's $13.3 billion real estate fund.

The seller was Crescent Real Estate Equities, an investment firm owned by Barclays Capital and Goff Capital, said a source familiar with the deal, who was not authorized to speak publicly about the deal.

Hughes Center is a 68-acre master-planned development located along Howard Hughes Parkway between Flamingo Road and Sands Avenue. Its tenants include Gordon Silver, Ameristar, Wells Fargo Bank Venetian, Boyd Gaming, Snell & Wilmer, and Lewis and Roca LLP.

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