London/Frankfurt, 8 November 2016. Blackstone Real Estate Partners Europe IV (“Blackstone”) announces that it has agreed to acquire OfficeFirst Immobilien AG (“OfficeFirst”), a leading office-focused German real estate business, from IVG Immobilien AG.
OfficeFirst controls a 1.4 million square meter predominantly office portfolio, the vast majority of which is located in Germany’s top six office markets – Munich, Berlin, Frankfurt, Hamburg, Dusseldorf, and Stuttgart. Blackstone's current office portfolio in Germany totals almost 400,000 square meters and includes high-quality assets in Frankfurt, Berlin, Hamburg, Munich, and Dusseldorf.
Anthony Myers, Head of European Real Estate at Blackstone, said: “We are delighted to make another substantial investment in Germany, where we are focused on high-quality, well-located assets in the country’s largest cities. OfficeFirst meets that investment criteria, and we are excited to continue working with OfficeFirst in driving value across its portfolio."
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $102 billion in investor capital under management. Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Major holdings include Hilton Worldwide, Invitation Homes (single family homes), Logicor (pan-European logistics) and prime office buildings in the world’s major cities. Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust
For further information
Blackstone
Andrew Dowler
T: +44 (0)20 7451 4275
Andrew.Dowler@Blackstone.com
IVG Immobilien AG
Jürgen Herres
T: +49 (0) 228 – 844 133
M: +49 (0) 151 1500 2829
E:
juergen.herres@ivg.de