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Simpson Thacher is representing real estate funds managed by Blackstone, through its investment in Equity Office Properties, in connection with the announced sale of a 49.8% interest in a joint venture with Teachers Insurance and Annuity Association that owns Colorado Center to affiliates of Boston Properties, Inc. (NYSE: BXP). Colorado Center is an office park in Santa Monica, California with six buildings and approximately 1,184,339 rentable square feet, as well as a three-level, underground parking garage with 3,100 stalls. Colorado Center is a premier office campus with a significant amenity base and open outdoor space located in the Santa Monica office market, which is home to the largest concentration of technology, media, advertising and entertainment tenants in Los Angeles. The closing of the acquisition is subject to customary conditions and termination rights for transactions of this type and is expected to occur in July 2016.

The Simpson Thacher team included Sas Mehrara, Frank Mangiatordi, Scott Farmer and Rachel Stein (Real Estate); and Nancy Mehlman and Taylor Alexander (Tax).