Blackstone is lining up to buy The Cabot for around £380m from Hines.
Hines put the 55,000 sq ft property up for sale last year, as it came to the end of a £70m refurbishment programme.
The firm acquired the Canary Wharf office block in 2014 from Morgan Stanley, which still occupies 250,000 sq ft of the building. It has prelet more than 208,000 sq ft to IWG’s Spaces brand, the Office of Rail and Road, and the Competition and Markets Authority.
It is one of five freeholds in Canary Wharf not owned by the Canary Wharf Group.
The purchase by Blackstone follows a period in which the private equity giant sold several office buildings in London, including the Sanctuary Buildings to South Korea’s Hana Financial Group for around £280m in 2018.
Hana Financial subsequently sold the property to Legal & General earlier this year for £300m.
Blackstone and Hines declined to comment.
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