Blackstone, Hudson to buy Vancouver's Bentall Centre complex
A joint venture of Hudson Pacific Properties Inc (NYSE: HPP) and the property arm of Blackstone Group has agreed to acquire the 1.45 million-square-foot Bentall Centre office and retail complex in Vancouver. Terms weren't released for the deal, which is expected to close in Q2 2019. The seller is China's Anbang Insurance Group Co Ltd. Anbang acquired Bentall Centre in 2016, reportedly for $1.06 billion. Hudson, a U.S. real estate investment trust, will own 20 percent of the joint venture and be responsible for operations and development. Blackstone will own 80 percent and serve as managing partner.
28 March 2019•4 mins read
