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Monday, November 17, 2014

Ivanhoe to purchase Manhattan skyscraper for $2.25 billion -WSJ, (NYSE: BX)

A group led by Canadian property investor Ivanhoe Cambridge has clinched a deal to purchase a Manhattan office tower for $2.25 billion from Blackstone Group LP, the Wall Street Journal reported, citing people familiar with the terms of the sale.If finalized, the deal for the 1095 Avenue of the Americas building would be the second most expensive sale of an individual office building in the U.S., the newspaper said. ( Cambridge, the real-estate arm of public pension fund Caisse de D�p�t et Placement du Qu�bec, is in the deal with Callahan Capital Partners, the report added.Blackstone and Ivanhoe could not immediately be reached for comment. (Reporting By Sai Sachin R in Bangalore; Editing by Alan Crosby)

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.5% or $0.16/share to $32.02. In the past year, the shares have traded as low as $26.15 and as high as $36.08. On average, 4765080 shares of BX exchange hands on a given day and today's volume is recorded at 3330602.