Print this page
Wednesday, 26 September 2012

Blackstone Seen Partnering with SL Green in Cabi Portfolio Deal

Written by 
Rate this item
(0 votes)

Commercial Real Estate Direct Staff Report

The buzz is that Blackstone Group is partnering with SL Green Realty Corp. in the takeover of the Cabi portfolio of 4.5 million square feet of Southern California office space.

Blackstone, through its Equity Office affiliate, also is said to be in the market for property managers for the portfolio, which SL Green took from a venture led by Hines Interests, and assumed the portfolio's debt.

The portfolio's previous owner, Cabi Developers, had acquired it in 2007 from GE Real Estate for about $1.65 billion and financed it with some $1.5 billion of debt. GE had picked up the portfolio through its acquisition of Arden Realty...


Log In or



weekly-call-to-action

“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • States: California
  • Sector: Office
  • Subject: Property Acquisitions (ACQ)
  • Company: BNP Residential Properties Inc., Saul Centers, Inc.
  • Private: Yes
Read 694 times Last modified on Wednesday, 03 October 2012
Dan Moynihan

Latest from Dan Moynihan