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Telereal Trillium, Blackstone to buy Network Rail’s commercial estate portfolio

Telereal Trillium and Blackstone Property Partners are buying Network Rail’s commercial estate portfolio for 1.46 pounds ($1.9 billion). Telereal and Blackstone will hold equal ownership stakes. The portfolio is made up of around 5,200 properties, the majority of which are converted railway arches. Michael Steele and Carlos Gil Rivas of Kirkland & Ellis LP advised Blackstone Property Partners and Telereal Trillium.

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Network Rail agrees £1.46bn commercial estate sale t

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