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Blackstone Spends $347M for Master-Planned Hughes Center

LAS VEGAS-Equity Office to Manage 1.4 Million-Square-Foot Portfolio of Office and Retail Properties in Las Vegas, NV.

By David Phillips | Updated on September 20, 2013

LAS VEGAS-Equity Office Properties, a wholly-owned subsidiary of Blackstone, has invested $347 million on the acquisition of Hughes Center by Blackstone Real Estate Partners VII. Hughes Center, a master planned office campus, includes 1.4 million square feet of class A office space, several restaurants and three undeveloped parcels. Information on the selling entity is undisclosed.

The investment marks the continuation of Blackstone’s strategy to acquire high quality assets in select submarkets. Equity Office, a wholly-owned affiliate of Blackstone, will handle management operations and oversee leasing for Hughes Center. The transaction represents a significant foray into the Las Vegas market by Blackstone.

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