British Land and GIC Form Broadgate REIT
British Land and Singapore sovereign wealth fund GIC have formed Broadgate REIT Limited as the new holding company for their joint venture. The entity formation does not modify any party’s economic interest in Broadgate, a massive office and retail complex at the core of the City of London. British Land and GIC are 50:50 owners of Broadgate.
Broadgate is GIC’s largest real estate investment in Europe. GIC bought its stake in Broadgate from the Blackstone Group.
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