BioMed valued at $14.6 billion in deal for sale from one Blackstone fund to another

(Reuters) – Blackstone Real Estate Partners and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors, Blackstone Group Inc said on Thursday.

Blackstone had agreed to buy BioMed Realty, a supplier of office space to healthcare companies, in late 2015 in a deal valued at $8 billion. (https://reut.rs/341V5a3)

Blackstone said on Thursday it is commencing 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.

(Reporting by Kanishka Singh; Editing by Devika Syamnath)