The Real Deal Miami

Posts Tagged ‘blackstone group’

  • Blackstone’s single-family rental division files for IPO

    Invitation Homes plans to sell $1.5B in shares
    December 01, 2016 01:30PM
    Steven Schwarzman

    Steven Schwarzman

    From the New York website: Blackstone Group’s single-family home rental business Invitation Homes quietly filed to go public. In January, the firm plans to sell $1.5 billion in shares in an IPO that could value it at $7.5 billion.

    The private equity giant plans to use the money to pay down debt, sources told the Wall Street Journal. Blackstone had previously indicated an Invitation Homes IPO was coming, but didn’t specify timing.

    Blackstone has invested $10 billion in buying up 50,000 distressed homes, most of them in the wake of the 2008 crisis, and turned them into rentals. [more]

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  • Trump in talks with Blackstone’s Gray for Treasury secretary

    Private equity giant lent on Jared Kushner’s $340M Watchtower building buy in DUMBO
    November 21, 2016 09:45AM
    Jonathan Gray, Donald Trump and the Treasury Building in Washington, D.C.

    Jonathan Gray, Donald Trump and the Treasury Building in Washington, D.C.

    From the New York website: Blackstone Group head of global real estate Jonathan Gray is in talks with Donald Trump about joining his administration as Treasury secretary. [more]

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  • Blackstone’s Gray: Trump win is a game changer for real estate

    Real estate head hints at possible REIT acquisitions
    November 15, 2016 04:30PM

    Jonathan Gray and Donald Trump

    The Blackstone Group’s real estate head Jonathan Gray thinks Donald Trump’s victory in last week’s election is a game changer for the real estate industry. But whether it’s a good or bad one remains to be seen. “I think it’s fair to say that the economic narrative has changed,” Gray said Tuesday at a conference hosted by Bank of America. [more]

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  • Blackstone strikes biggest European RE deal of 2016 with $3.6B OfficeFirst buy

    Fund manager to acquire 97 properties and 15M sf in Germany
    November 09, 2016 01:00PM
    OfficeFirst Property The Square in Frankfurt (Credit: OfficeFirst) and Blackstone's Jonathan Gray

    The Square in Frankfurt (Credit: OfficeFirst) and Blackstone’s Jonathan Gray

    From the New York websiteIn Europe’s largest property deal this year, private equity giant Blackstone Group has agreed to pay $3.6 billion for OfficeFirst, the real estate subsidiary of Germany’s IVG Immobilien AG. [more]

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  • Blackstone now has more than $100B in dry powder

    Fund manager reports profitable third quarter
    October 27, 2016 04:30PM
    Stephen Schwarzman and Michael Chae

    From left: Stephen Schwarzman and Michael Chae

    From the New York website: Thanks in part to some major real estate sales, the Blackstone Group had a profitable third quarter. But arguably the most interesting news was buried in the earnings presentation: the fund manager’s dry powder crossed the $100 billion threshold for the first time.

    Blackstone now has $102 billion in uncalled capital — up 20 percent from $85 billion a year ago. The firm’s real estate funds alone sit on $33.2 billion in dry powder – up from $27 billion. [more]

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  • China’s HNA to buy 25% Hilton stake from Blackstone

    The $6.5B deal will reduce Blackstone’s holding in the company to 21%
    October 24, 2016 03:25PM
    The Hilton Midtown at 1335 Sixith Avenue

    The Hilton Midtown at 1335 Sixith Avenue

    From the New York website: Chinese shipping and aviation giant HNA Group will buy a roughly 25 percent stake in Hilton Worldwide Holdings from Blackstone Group, the company announced Monday. [more]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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