Blackstone Picks Up 4 Properties From WestLB Successor

Law360, New York (February 4, 2014, 1:46 PM EST) -- Two Blackstone Group LP funds have acquired four office properties in Dusseldorf from Portigon AG, the successor to WestLB AG, the financial services firm announced Saturday.

Portigon did not disclose the price, but German media reported that Blackstone paid about €350 million ($473 million). 

"With this sale we are taking full advantage of the favorable conditions which currently exist in Dusseldorf for selling office properties and at the same time taking a further major step forward in the dismantling of Portigon AG," Dietrich Voigtlander, chairman of the...
To view the full article, register now.