Blackstone Gains 25% Stake In 2 World Financial Center

Law360, New York (January 18, 2012, 6:11 PM EST) -- Private equity firm Blackstone Group LP has made an investment in a loan for 2 World Financial Center, representing a 25 percent stake in the building, sources close to the deal said Wednesday.

The values of the loan and Blackstone's stake in the loan for the 2.7-million-square-foot tower were not disclosed.

Brookfield Office Properties Inc. owns and manages the World Financial Center complex, which is undergoing $250 million in renovations aimed at attracting retail tenants at the bases of the four buildings.

While Brookfield reportedly signed...
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