Saturday, 24 Oct 2020

BioMed valued at $14.6 billion in deal for sale from one Blackstone fund to another

(Reuters) – Blackstone Real Estate Partners and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors, Blackstone Group Inc BX.N said on Thursday.

Blackstone had agreed to buy BioMed Realty, a supplier of office space to healthcare companies, in late 2015 in a deal valued at $8 billion. (reut.rs/341V5a3)

Blackstone said on Thursday it is commencing a “go-shop” process on behalf of BioMed’s current investors, with the recapitalization expected to close within five business days after the process concludes.

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