Blackstone will pay £268.4m to buy the Times Square office building in London’s financial district from Land Securities.
The purchase fits in well with Blackstone’s strategy of “core plus” funds investing in properties that are well-maintained, have low vacancy rates and are in major cities, the company’s head of real estate Europe, Anthony Myers, said.
The property comprises 380,000 square feet of space, and includes Bank of New York Mellon among its tenants.
