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Blackstone to sell office asset in Australia to Singaporean firm for A$130M

Blackstone Group LP struck a nearly A$130 million deal with Singaporean funds manager Firmus Capital for the divestment of its office tower at 127 Creek St. in Brisbane, Australia, The Australian reported.

The 18,302-square-meter property is one of three office buildings in Australia that the private equity giant said it would sell in August 2017 for more than A$500 million. It also once formed part of a GE portfolio and has an estimated fully leased net income of about A$9.6 million, according to the May 21 report.

Knight Frank and CBRE advised Blackstone for the transaction, the paper added.