Nov 10 China Investment Corporation is set to
buy Chiswick Park, a west-London office development, from U.S.
private equity group Blackstone for about 800 million
pounds, the Financial Times reported, citing people familiar
with the matter.
The talks are at an advanced stage and a deal could be
finalised before end of November, the FT said ()
If successful, the deal would be the second acquisition by
CIC in the UK property market after it bought Deutsche Bank's
City of London headquarters last year, the newspaper added.
Real estate has been the chief driver of Blackstone's
financial success and it has moved aggressively to sell or take
public its real estate assets. Brixmor Property Group Inc, the
shopping center operator owned by Blackstone, raised $825
million its initial public offering last month.
On its 33-acre site, Chiswick Park leases out office space
to companies including Qualcomm, Tullow Oil Plc
Blackstone declined to comment on the matter and CIC could
not be reached outside regular business hours.