Blackstone Real Estate Partners VI and Valad Europe sold the European arm of the Australian Valad Property Group to Cromwell Property Group for €145m. The deal, which reportedly took six months to close, still needs to be approved by anti-monopoly regulators.
Valad Europe will remain active on the European market, acting independently on behalf of its investors. Martyn McCarthy will continue to head the company, which currently has €5.3bn assets under management through 24 investment vehicles.
