Australian real estate fund is subject to takeover offer by Blackstone. : The board of the listed Investa Office Fund has cleared the way for its largest shareholder, Investa Commercial Property Fund (ICPF), to vote on Blackstone’s AUD3.1bn (€2bn) takeover offer. The decision has intensified speculation of a challenge to the Blackstone bid, potentially from Macquarie Real Estate Investment (MREI), which this week bought 50% of the fund management platform of IOF. At the very least, according to market sources, it looks almost certain that Blackstone will need to increase its offer.