Feb 19 (Reuters) - China's Anbang Insurance Group is buying an office tower in New York City from Blackstone Group for an undisclosed amount, Crain's New York Business reported, citing sources familiar with the deal.
The property at 717 Fifth Avenue is a 26-story, roughly 350,000-square-foot office tower, and Anbang is not buying the property's ultra-valuable retail space in the deal, the business publication said. (http://bit.ly/1MyZf9m)
Anbang officials could not be immediately reached for comment. Anbang has previously declined to comment on its acquisitions or its shareholdings.
Blackstone could not be reached for comment outside regular U.S. business hours.
Anbang, which according to a media report is considering an initial public offering this year, has already spent $10 billion in under four months on deals.
The privately held insurer and asset manager has been on a buying spree. It recently sealed a $1.95 billion deal for New York's landmark Waldorf Astoria hotel. It also bought the Belgian banking operations of Dutch insurer Delta Lloyd NV, for 219 million euros.
Earlier this week, Anbang said it is paying $1 billion to buy a controlling stake in South Korea's Tong Yang Life Insurance.
(Reporting by Zara Mascarenhas in Bengaluru; Editing by Gopakumar Warrier)