Deals
Carlyle Group Sells London Office to Blackstone for $514 Million
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Carlyle Group LP, the second-biggest alternative-asset manager, sold a London office property to larger rival Blackstone Group LP for 300 million pounds ($514 million) as the U.K.’s growing economy spurs gains in the value of workspace in the city.
The 382,000 square-foot (35,500 square-meter) property at Alban Gate in the City of London financial district is leased to JPMorgan Chase & Co. and is the fourth sold from six buildings Carlyle bought in 2010 for 671 million pounds, Carlyle said in an e-mailed statement. JPMorgan refurbished the property this year and rented out “much of the space” to a law firm, according to the statement.