NEW YORK, Sept 20 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.