LONDON—China Investment Corporation is laying the groundwork for acquisition of 32-acre Chiswick Park, one of London's largest office developments.
The Financial Times says it would be the highest value real estate purchase made by Beijing's investment arm in Europe. CIC is reportedly in exclusive negotiations with Blackstone to purchase the property in west London. The Times say the deal could close toward the end of November.
The sale would mark only the second purchase made by CIC in the UK market. The fund acquired Deutsche Bank's $390 million (£245m) City of London headquarters last year, but has otherwise avoided the sort of mega-deals undertaken by the sovereign wealth arms of Singapore, Malaysia and Qatar.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
