China Investment Corporation has completed its purchase of Chiswick Park, W4, from Blackstone for around £800m.
Blackstone bought the office park from a consortium of Aberdeen Asset Management, Schroders and Stanhope in early 2011 for £480m.
CIC was one of a number of parties circling the park at the beginning of 2013, before Blackstone opted to refinance the west London office campus in March.
But exclusive talks to sell the park were rekindled with CIC in November.
Deutsche Bank was enlisted in March 2013 to provide £400m of senior debt against the 1.5m sq ft park while a £200m mezzanine facility came from Apollo Global Management.
Blackstone then started work last summer on developing the final and largest building in the park – the £80m, 334,000 sq ft 12-storey Building 7.
nick.whitten@estatesgazette.com
