Blackstone acquired Equity Office Properties Trust for Approximately $39 billion ($55.50 per share in cash), a transaction completed in February 2007, structured as All cash.
Equity Office Properties Trust operates in Real estate — office (REIT take-private), is based in Chicago, USA (national office portfolio across 16 states and Washington, D.C.).
Equity Office was the largest publicly traded U.S. office owner, and the buyout — the largest leveraged buyout in history at the time — expanded Blackstone's office platform following its earlier CarrAmerica and Trizec acquisitions. A bidding contest with a Vornado/Starwood/Walton Street group pushed the price from $48.50 to a final $55.50 per share.
We are extremely excited about this landmark transaction with Equity Office, which represents the largest private equity deal in history. We believe that the skills and strengths of Equity Office will greatly enhance our existing office platform, which has been expanded through our recent acquisitions of CarrAmerica and Trizec.Jonathan D. Gray, Senior Managing Director, The Blackstone Group
Advisory firms were not disclosed for this transaction.