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Actionable news in BX: THE BLACKSTONE GROUP L.P,

Blackstone (BX) Stock Rises, Explores $3.6 Billion Officefirst Deal

NEW YORK (TheStreet) -- Shares of Blackstone Group (BX) were increasing in pre-market trading on Wednesday as the New York City-based alternative asset manager is reportedly exploring a $3.6 billion purchase of the German real estate group Officefirst.

Officefirst comprises a portfolio of approximately 100 German office buildings, Reuters reports. The real estate firm is owned by the German financial holding company, IVG.

IVG is currently deciding whether to sell or list Officefirst and has said it will make a decision around mid-September. A sale would allow IVG to divest the entire company at once, while an IPO would only allow IVG to sell an initial stake of approximately half of Officefirst's...