Blackstone seals $826m Mirvac deal

US private equity giant Blackstone has staked its claim as a major force in the Australian property market.

US private equity giant Blackstone has staked its claim as a major force in the Australian property market with the purchase of its largest portfolio in an $826 million deal with listed player Mirvac Group.

Mirvac yesterday unveiled the sale of a half stake in landmark Sydney office building Westpac Place as part of the broader deal with Blackstone, which was sweetened with seven additional non-core assets from its property division.

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