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Blackstone plans to sell New York office tower for $2.25bn

29 Aug 2014

new yorkPrivate equity major Blackstone is reportedly planning to sell a New York office tower for around $2.25bn.

Blackstone has hired Eastdil Secured to help sell 1095 Avenue of the Americas, a 42-story building that is set to become the headquarters of Verizon Communications, two people with knowledge of the matter told Bloomberg.

The 1.2 square foot building, which also houses MetLife’s offices, was acquired as part of the $39bn takeover of Equity Office Properties Trust in 2007.

Earlier this month Blackstone teamed up with exploration and production company Vine Oil & Gas to buy assets from Royal Dutch Shell affiliates for $1.2bn.

These assets cover more than 107,000 net acres in North Louisiana in the core of the Haynesville natural gas shale basin.

Blackstone is expected to launch its second energy fund with a target at least equal to its debut $2.5bn vehicle later this year.

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