Blackstone to Buy Mubadala-GE Venture Real Estate Debt Assets - Bloomberg Business

Blackstone to Buy Mubadala-GE Venture Real Estate Debt Assets - Bloomberg Business:



"Blackstone Group LP will acquire commercial real estate debt assets from Mubadala GE Capital Ltd. as Abu Dhabi investor Mubadala Development Co. weighs the future of its joint venture with General Electric Co.



Blackstone, the biggest real estate private equity firm, will pay cash for the debt, which accounts for 8 percent of Mubadala GE Capital’s total assets at the end of May, the joint venture said in an e-mailed statement Friday. It gave no valuation for the assets.



General Electric set up the $8 billion venture with Mubadala in 2008 to profit from commercial investments in the Middle East and Africa. Each company planned to contribute $4 billion in equity over three years to the fund, aiming to reach $40 billion in assets, they said at the time."



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