Deals
Blackstone Said to Buy Alecta’s U.S. Properties for $1.8 Billion
- Swedish pension fund is selling real estate in U.S. and U.K.
- Assets include shopping centers and office buildings
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Blackstone Group LP is in a $1.8 billion deal to buy the U.S. real estate assets of Alecta, the Swedish pension manager that is seeking to exit investments that don’t fit with its strategy, according to a person with knowledge of the transaction.
The purchase mainly consists of retail and office properties, said the person, who asked not to be identified because the deal is private. They include Lakeshore Plaza, a shopping center in San Francisco’s Sunset District; the Shops at La Jolla Village, a retail area in the affluent San Diego suburb; and 815 Connecticut Ave. NW in Washington, an office building near the White House.