Blackstone, Ivanhoe Pick Up 23% Stake In French REIT

Law360, New York (January 31, 2014, 5:30 PM EST) -- Blackstone Group LP and Canadian real estate fund manager Ivanhoe Cambridge have picked up a 22.98 percent stake in French real estate investment trust Gecina SA as a result of a Luxembourg court ruling, the companies said Friday.

The court ruling involved involved loans made to Spanish companies secured by shares of Gecina. At a hearing Thursday, the court ordered the loans to be wound up and they were passed to Blackstone and Ivanhoe Cambridge as collateral, a representative for Blackstone confirmed to Law360 Friday....
To view the full article, register now.