Brandywine buys Bell Atlantic Tower; Blackstone takes REIT stake

08/6/2010 | Philadelphia Inquirer, The · Bloomberg

Brandywine Realty Trust has acquired Bell Atlantic Tower, a 53-story Philadelphia landmark, for $129 million. It is acquiring the property from an affiliate of the Blackstone Group, which as part of the deal has acquired a 5% stake in the REIT. Blackstone is now the fourth-biggest shareholder in Brandywine.

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Philadelphia Inquirer, The · Bloomberg

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