Blackstone now has over $196bn of property assets under management.

Blackstone, has finalized a £1.2bn to takeover of UK property investment company St Modwen.

It follows a string of property investments by Blackstone, which now owns Sage Housing and Bourne Leisure.

The offer was initially opposed by JO Hambro Capital Management, one of the FTSE 250 developer’s largest shareholders with a 9% stake. It believed that the price was too low.

A spokesman for JO Hambro said at the time: “We feel it would be a shame for stock market investors to lose the long-term optionality within the group’s businesses and land bank, built up over many years, particularly for the small premium being offered.”

Read more/Source: UK Investor Magazine