British Land / Blackstone Bro

RNS Number : 8788B

British Land Co PLC

03 November 2009

 



British Land and Blackstone Broadgate Joint Venture Established 

The British Land Company PLC is pleased to announce that, following Shareholder approval and the relevant regulatory clearances, the formation of its Joint Venture with The Blackstone Group L.P. in respect of Broadgate completed on 3 November 2009.  

Notes to Editors:

British Land is one of the UK's largest Real Estate Investment Trusts with total assets, owned or under management, valued at £11.6 billion as at 30 June 2009. Upon completion of this transaction, Retail assets account for 65% of British Land's portfolio, 82% of which is located in prime out of town sites. Offices comprise 32% of the portfolio, of which City is 21% and West End 11%. 

Blackstone is one of the world's leading investment and advisory groups, being an active investor in commercial real estate and property companies. Its Real Estate Group has assets under management of some US $23 billion.

Date: Tuesday, 3 November, 2009 

British Land media enquiries:

Laura De Vere: Tel: [phone]. Mobile: [phone]
Finsbury: Ed Simpkins: 0207 251 3801

British Land Investor Relations enquiries:
Amanda Jones: Tel [phone]. Mobile: [phone]

 

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