Is this the end of what’s become one of the biggest buyout battles of the young century?
Probably. Vornado Realty Trust announced on Wednesday morning it has dropped its bid for Equity Office Properties, the nation’s largest office landlord. Blackstone looks poised to win what’s been a months-long slog of one-upmanship. Read More
Well, some good news for 1095 A of A: The MetLife deal is done. They’ll take 12 floors and 410,000 square feet from landlord Equity Office Properties in the fourth quarter of 2008.
The release says that MetLife will keep a “substantial ongoing presence” in super-spurned Long Island City. Whatever. It’s all further evidence that Read More
Blackstone Group’s likely takeover of Equity Office Properties, the nation’s largest office landlord with Manhattan holdings that include 1095 Sixth Avenue and Park Avenue Tower, would be the biggest leveraged buyout in history at $36 billion.
Equity’s board approved on Sunday night the buyout by Blackstone, which includes the assumption of debt. But Read More