Blackstone divests BioMed Realty for $14.6 billion

In a statement the Blackstone Group said, its unit Blackstone Real Estate Partners along with co-investors have agreed to divest BioMed Realty for $14.6 billion to a group led by existing BioMed investors.

In 2015, Blackstone had acquired BioMed Realty, a supplier of office space to healthcare companies, for $8 billion.

Blackstone said it is starting a “go-shop” process on behalf of BioMed’s current investors, with the recapitalization expected to close within five business days after the process concludes.

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