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Blackstone to manage some BoA real estate assets: source


    NEW YORK (Reuters) - Private equity firm Blackstone Group is to manage some of Bank of America's Asian real estate assets, a source familiar with the situation said, confirming an earlier report in the Financial Times.

    The portfolio is valued at about $2 billion, excluding debt, the Financial Times reported.

    Details of the deal was in a letter sent to investors last week, the source said.

    Blackstone declined comment. Bank of America was not immediately available for comment.

    (Reporting by Megan Davies; Editing by Tomasz Janowski)