Blackstone’s $1.2 Billion Acquisition Of Seattle Office Buildings

Simpson Thacher represented Blackstone in the approximately $1.2 billion acquisition of two major office towers in Seattle from Ivanhoe Cambridge and its partners, and the financings related thereto.

Wells Fargo provided the financing for Blackstone’s purchase of the Wells Fargo Center, at 999 Third Avenue, and Deutsche Bank and US Bank combined to provide the debt financing for Blackstone’s purchase of the U.S. Bank Centre, at 1420 Fifth Avenue. Together, the buildings comprise just shy of 2 million square feet of rentable office space. Eastdil Secured brokered the deal on behalf of Blackstone.

The Simpson Thacher team included Greg Ressa (Picture), Davis Coen, Ari Goldman and Amy Oster (Real Estate); and Nancy Mehlman and Sergio Torres (Tax). Summer Associate John Collins provided valuable assistance.

Involved fees earner: Davis Coen – Simpson Thacher & Bartlett; John Collins – Simpson Thacher & Bartlett; Aryeh Goldman – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Amy Oster – Simpson Thacher & Bartlett; Gregory Ressa – Simpson Thacher & Bartlett; Sergio Torres – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Blackstone;

Author: Ambrogio Visconti