Goldman Sachs lost $1.8bn property deal - reports

US investment bank Goldman Sachs reportedly lost a $1.8bn investment deal with Swedish pension manager Alecta for its US assets, according to Bloomberg sources.

An agreement was made for the sale of the real estate in the United States and the United Kingdom, but during a period of additional research the transaction faltered due to a dispute.

In swooped Blackstone Group who completed the deal for Alecta's US propertyy assets for $1.8bn.

The reports suggest that the deal for the UK property will still go ahead, thought to be in the region of $450m.

A possible sticking point in the agreement for the 22 properties may have been signs of deceleration in the commercial real estate market, leading to a difference of opinion with regards to the price.

Goldman have restructured their real estate business in recent years, after disbanding its Whitehall property funds in favour of lending from buying properties.

Blackstone has now taken over the properties, which include shopping centres in California, as well as Disney stores and office buildings in Chiacgo and Washington.