Private equity group Blackstone has reportedly agreed to sell $7 bn (EUR 5.3 bn) worth of offices in New York to privately-owned Macklowe Properties. The move is designed to help pay down the increased debt Blackstone incurred to win control of Equity Office Properties (EOP) on Wednesday.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
