Blackstone buys Roku’s San Jose offices


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Stephen Schwarzman of Blackstone, CEO of Anthony Wood of the Year and Coleman Highline of San Jose (Blackstone; Wikipedia Commons; Coleman Highline)

Stephen Schwarzman of Blackstone, CEO of Anthony Wood of the Year and Coleman Highline of San Jose (Blackstone; Wikipedia Commons; Coleman Highline)

A few months after a revolutionary deal was reached in Hollywood, Blackstone Group is making another big bet on streaming video by buying an office property in San Jose leased to Roku.

Blackstone, a non-traded real estate investment fund, BREIT, will pay $ 275 million, or about $ 770 per square foot, for two buildings under Coleman Highline, according to Bloomberg News.

A year later, it moved its headquarters to real estate last year and has another nine years to lease. The digital media company leases 730,000 square feet of office space in a complex developed by Hunter Properties.

In August, he bought Blackstone and 49 percent in the $ 1.65 billion portfolio of Hudson Pacific Properties’ Hollywood production studio and office.

Netflix rents 31 percent space and rental ABC, Disney and CBS / Viacom are among the other major tenants.

According to recent years, San Jose has attracted the attention of major companies in the Bay Area news of Mercury. Adobe is expanding its office complex in downtown San Jose. Not far away, Google has designed a 79-acre mixed-use office complex near Diridon Station in San Jose. Apple is buying property for an 85-acre resort in north San Jose.

[Bloomberg] – Dennis Lynch


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