GIC buys Blackstone's 50% stake in London business asset

Singapore

GIC added another feather to its cap of prominent international property acquisitions, as it acquired the entire 50 per cent stake in London's Broadgate business district from property giant Blackstone.

In a statement yesterday, GIC and British Land, which holds the other half of Broadgate, said they have entered into a joint venture. British Land will be the asset manager in the partnership, and its subsidiary will carry on day-to-day property management and occupier services.