Deals
Blackstone Buys Sydney Offices in Firm's Biggest Australia Deal
- Company pays A$1.52 billion for space above Westfield malls
- Scentre to use proceeds to pay debt, fund share buyback
Westfield Sydney
Photographer: Jason McCawley/Getty Images
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Blackstone Group LP has struck its biggest deal in Australia, agreeing to buy A$1.52 billion ($1.06 billion) of offices in the central business district.
The transaction comes after New York-based Blackstone last year lost out to Ontario Municipal Employees Retirement System’s real-estate unit in a A$3.35 billion bidding war for Australia’s Investa Office Fund.