Firm Represents Blackstone in Sale of Southern California Real Estate Portfolio
06.29.07
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The firm is representing The Blackstone Group in the sale of a portfolio of 38 office buildings located in Southern California, San Francisco, Seattle, Portland and Salt Lake City to Arden Realty, an affiliate of GE Real Estate, for $2.1 billion. The transaction is subject to customary conditions and is expected to close in approximately two months.
The Firm represented Blackstone in its 2006 acquisition of CarrAmerica Realty Corporation, one of the nation’s premier real estate companies, with a portfolio of 285 properties totaling approximately 26.3 million square feet. The Firm also represented Blackstone in the 2006 sale of 22 CarrAmerica properties located in Washington, D.C., Virginia and Maryland to Tishman Speyer for $2.8 billion.
The Simpson Thacher team working on the transaction includes: Gregory Ressa, Scott Kobak, Alison Ando and Bryan Herzbach (Real Estate); Gregory Grogan and Wonda Joseph (Employee Benefits), Fagie Hartman (Labor) and Brian Ferry (Summer Associate).