Blackstone Acquires Retirement Village Portfolio in New Zealand

Auckland, February 16th , 2016 – Blackstone (NYSE: BX) today announced that funds it manages on behalf of its investors have entered into a definitive agreement to acquire a retirement village portfolio in New Zealand from Lendlease, a leading, fully integrated, international property and infrastructure group. The portfolio comprises five fully completed villages, four in Auckland (the Knightsbridge, Mayfair, Parklane and Peninsula Club) and one in Mt Maunganui (Ocean Shores). Financial terms of the transaction were not disclosed. The transaction is expected to close in the next several months pending relevant regulatory approvals.

About Lendlease:
Lendlease is a leading international property and infrastructure group. Listed on the Australian Securities Exchange and with circa 13,700 employees worldwide, Lendlease’s capabilities span the property value chain.

In Australia it offers development management; investment management; project management & construction and asset & property management. Its expertise covers multiple sectors including commercial, residential, retail, retirement and infrastructure. 

About Blackstone Tactical Opportunities:
Blackstone’s Tactical Opportunities business employs an opportunistic investment strategy across asset classes, industries and geographies.  The strategy seeks to capitalize on time-sensitive or non-traditional investment opportunities that are differentiated and difficult to source, analyze or execute.

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $330 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at Follow Blackstone on Twitter @Blackstone.

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