Brookfield and Qatar investment authorities sell a 49% stake in one Manhattan West to Blackstone Real Estate, Canadian Business Journal

BROOKFIELD NEWS, March 14, 2022 (GLOBE NEWSWIRE) — Brookfield (NYSE: BAM, TSX: BAM.A) and Blackstone (NYSE: BX) today have Blackstone Real Estate from Brookfield to Manhattan West. Announced that it has acquired a 49% stake. Qatar Investment Authority (QIA). Under this agreement, office buildings will be valued at $ 2.85 billion. The 67-story, 2.1 million-square-foot building is part of QIA’s eight-acre, 7-million-square-foot commercial facility on Manhattan West, Brookfield, and west of Manhattan.

Ben Brown, Managing Partner of Brookfield, said: “One of Manhattan West has one of the world’s leading companies, and their continued desire to work and grow in buildings is a promising sign of well-located office assets in Manhattan West and Prime.”

Qahir Madhany, Managing Director of Blackstone Real Estate, said: Amenityized, newly built assets in the gateway market. We have long believed in New York and are confident that high quality properties like OneManhattan West will continue to have strong tenant demand. “

Designed by Skidmore, Orwings & Merrill, Brookfield opened One Manhattan West in 2019 as the first new office tower within Manhattan West Development. Located on the corner of 9th and 33rd Avenues, One Manhattan West is rented to tenants such as Accenture, EY, McCoolsmith, Skadden Arps, Slate, Meeger & From LLP. The building is LEED Gold certified and was rated for health and safety in 2021.

About Brookfield
Brookfield is the world’s leading alternative asset manager with approximately US $ 690 billion in real estate, infrastructure, renewable electricity, private equity and credit total assets. Brookfield owns and operates long-lived assets and businesses, many of which form the backbone of the global economy. Brookfield leverages its global reach, access to large-scale capital and operational expertise to include public and private pension schemes, endowments and foundations, sovereign wealth funds, financial institutions and insurers worldwide. We offer a variety of alternative investment products to our investors. Personal asset investor.

Brookfield is listed on the New York and Toronto Stock Exchanges under the BAM and BAM.A symbols, respectively.

About Blackstone Real Estate
Blackstone is a world leader in real estate investment. Blackstone’s real estate business was founded in 1991 and manages $ 279 billion in investor capital. Blackstone is the world’s largest owner of commercial real estate and owns and operates assets across all major regions and sectors, including logistics, housing, offices, hospitality and retail. Our opportunistic fund seeks to acquire well-managed, well-placed assets around the world. Blackstone’s Core + strategy invests in virtually stable real estate assets globally, while unlisted REITs Blackstone Real Estate Income Trust, Inc. (BREIT) invest in US revenue-generating assets. Blackstone Real Estate also operates one of the world’s leading real estate debt businesses, offering comprehensive financing solutions across the capital structure and risk spectrum, including management of the Blackstone Mortgage Trust (NYSE: BXMT).

About QIA
The Qatar Investment Authority (QIA) is a sovereign wealth fund in Qatar, a global investment organization, with investments across all major global markets, asset classes, sectors and regions. QIA is established by Amiri’s decision number. 22 of 2005 is to develop, invest and manage state reserves and other assets allocated by the Supreme Economic and Investment Council to diversify Qatar’s economy.

For more information, please visit our website

contact address:

Communication and media:
Kelly McHugh Hayes
Tel: (212) 618-3469
Black stone:
Gillian Curry
Tel: (212) 583-5379

CBJ News Maker

Brookfield and Qatar investment authorities sell a 49% stake in one Manhattan West to Blackstone Real Estate, Canadian Business Journal

Source link Brookfield and Qatar investment authorities sell a 49% stake in one Manhattan West to Blackstone Real Estate, Canadian Business Journal

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