The Real Deal Miami

Posts Tagged ‘blackstone group’

  • Blackstone sells Hyatt in Sarasota for $57.9 million

    The New York-based equity fund had purchased the hotel in 2007 for $65 million
    October 15, 2016 12:30PM
    Poolside at the Hyatt Regency in downtown Sarasota

    Poolside at the Hyatt Regency in downtown Sarasota

    New York-based Blackstone Group sold for $57.9 million a Hyatt Regency hotel in downtown Sarasota that the equity fund bought in 2007 for $65 million.

    The Sarasota Herald Tribune also reported that the $57.8 million price excludes the value of unidentified building amenities and supplies.  More than 40 years old, the Hyatt Regency underwent substantial renovation while Blackstone owned it. [more]

  • Private funds seeking $32B in commercial-property debt

    Meanwhile, banks are pulling back
    September 19, 2016 02:15PM
    From left: Scott Rechler, Stephen Schwarzman and Barry Sternlicht

    From left: Scott Rechler, Stephen Schwarzman and Barry Sternlicht

    From the New York website: U.S. investment firms, some of which are referred to as shadow banks, are seeking $32 billion in commercial-property debt as traditional lenders shy away from providing financing directly to property owners. [more]

  • Blackstone launches $5B non-traded REIT

    New vehicle to focus on low-risk properties
    August 11, 2016 08:45AM
    Steven Schwarzman (credit: Natalie White)

    Steven Schwarzman (credit: Natalie White)

    The New York website: Blackstone Group launched its first non-traded real estate investment trust and is looking to raise $5 billion from investors.

    The new REIT, dubbed Blackstone Real Estate Income Trust, will focus on core properties including hotels and multifamily buildings, according to an SEC filing cited by Bloomberg. Blackstone is primarily known as a manager of private investment funds, although it also runs a publicly traded mortgage REIT. The company had $103.2 billion in real estate assets under management as of June 30. [more]

  • Real estate boosts Blackstone’s profits in Q2

    Fund manager’s property assets grow to $103.2B, Brexit had small impact
    July 21, 2016 04:30PM
    (credit: Blackstone) and Jonathan Gray

    Chart of Blackstone’s profits (credit: Blackstone) and Jonathan Gray (click to enlarge chart)

    From the New York website: UPDATED, July 21, 11: 29 a.m. The Blackstone Group’s profits rose in the second quarter in large part due to its growing real estate portfolio. [more]

  • Blackstone mulls sale of 137M sf European warehouse portfolio

    Deal could value Logicor unit at $11 billion, including debt
    May 20, 2016 03:45PM
    From left: Logicor in Europe and Jonathan Gray

    From left: Logicor in Poland and Jonathan Gray

    From the New York websiteThe Blackstone Group is considering either selling its European industrial-property arm in a deal that could value the company at more than $11 billion, or moving forward with an initial public offering that could be one of the largest ever on the continent. [more]

  • Blackstone now owns more than $100B in real estate

    Fund manager’s CRE earnings recovered slightly in Q1
    April 21, 2016 12:45PM

    Source: The Blackstone Group

    From the New York websiteThe Blackstone Group’s real estate division passed the $100 billion mark in assets under management in the first quarter, while its earnings recovered slightly from a dip at the end of 2015. [more]

  • Private real estate funds have a record $231B to spend — but few places to put it

    A big chunk of it is likely to end up in US real estate
    March 30, 2016 01:30PM


    From the New York website: Private real estate funds have more money to spend than ever before, but that’s not necessarily good news for the real estate market. [more]

  • REVEALED: How much KHP paid for the Hilton Key Largo

    Deal was one of Keys' priciest hospitality purchases in recent years
    March 29, 2016 09:45AM

    Hilton Key Largo at 97000 Overseas Highway

    California investment firm KHP Capital Partners made landfall in the Florida Keys last month when it purchased Blackstone Group’s Hilton Key Largo Resort for an undisclosed amount.

    Now, county records have revealed just how pricey the deal was. [more]

  • CMBS could make a comeback, experts say

    Panel agreed that multifamily market remains strong
    March 18, 2016 05:15PM
    From left: Ron ,

    From left: Ron Lo Russo, Jennifer McCool, Jessica Lappin and Qahir Madhany 

    From the New York websiteAs banks retreat from funding certain projects, commercial mortgage-backed securities may return with renewed vigor over the next few months. [more]

  • What’s behind Anbang’s record-breaking $19B hotel play?

    TRD examines why the politically-connected Chinese insurance giant acquired the Strategic Hotels portfolio and bid $13B on Starwood
    March 17, 2016 10:30AM
    From left: Anbang's Wu Xiaohui and Blackstone's Stephen Schwarzman at a Harvard University event in early 2015 (credit: Anbang Insurance Group)

    From left: Anbang’s Wu Xiaohui and Blackstone’s Stephen Schwarzman at Harvard University in early 2015 (credit: Anbang Insurance Group)

    From the New York website: In a single weekend, Anbang Insurance Group laid out $19.3 billion in cash to acquire two marquee U.S. hotel portfolios, an enormous sum that roughly represents the total volume of Chinese investment in U.S. commercial real estate from 2007 to 2015. [more]