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Investing.com -- Blackstone (NYSE:BX) is reportedly negotiating to acquire a substantial stake in a 50-story office building in New York, according to a Bloomberg report on Thursday. The current owners of the building are institutional investors who receive advice from J.P. Morgan Global Alternatives and Fisher Brothers.
The building, known as 1345 Avenue of the Americas, is not owned by JPMorgan Asset Management, but rather by its institutional investors.
This prospective acquisition by Blackstone follows recent comments made by the company’s executives during an earnings call. They suggested that the commercial real estate sector, which has faced difficulties, is now showing signs of stability.
The discussions are ongoing and the deal is not yet finalized.
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