Blackstone poised to sell real estate portfolio; Schwartzman says firm will “crush it”

TRD New York /
Jul.July 11, 2012 11:00 AM

One of the largest players in U.S. real estate is prepping to sell its office portfolio, the Wall Street Journal reported. The private-equity firm Blackstone Group’s move to sell its $22 billion worth of office assets may signal the market’s recovery.

The exit could come as early as next year, sources said. Executives are considering selling the real estate as regional portfolios, or listing it as a real estate investment trust. Blackstone’s office properties span 50 million square feet in more than 100 buildings, the Journal said.

The company is very bullish on its success in the forthcoming transactions. “When we exit the real estate, my expectation is that we will really crush it and we will really do extremely well,” Blackstone head Stephen Schwarzman said on a call with analysts earlier this year, according to the Journal. [WSJ]


Related Articles

arrow_forward_ios
Blackstone COO Jonathan Gray and Club Quarters Chicago at 111 W Adams Street (Getty, Google)

Blackstone misses payment on $274M hotel loan

Blackstone misses payment on $274M hotel loan
Blackstone’s Jonathan Gray

TRD Insights: Here’s how much tenants pay for space at Blackstone’s massive industrial portfolio

TRD Insights: Here’s how much tenants pay for space at Blackstone’s massive industrial portfolio
Blackstone’s Jonathan Gray, Starwood Capital Group’s Barry Sternlicht, and Oaktree Capital co-chairman Howard Marks (Getty)

“Phenomenal returns” for some distressed real estate investors in stocks

“Phenomenal returns” for some distressed real estate investors in stocks
Hudson Commons and 444 N. Michigan Ave. 

TRD Insights: Can CLOs recover from the pandemic?

TRD Insights: Can CLOs recover from the pandemic?
Blackstone's president Jonathan Gray and CEO Stephen Schwarzman (Credit: Gray via Drew Angerer/Getty Images; Schwarzman via Himanshu Bhatt/NurPhoto via Getty Images)

Blackstone: “We don’t need financing to get things done”

Blackstone: “We don’t need financing to get things done”
Blackstone’s Jonathan Gray and Starwood Capital Group’s Barry Sternlicht (Credit: Gray by  Drew Angerer/Getty Images; Sternlicht by Cindy Ord/Getty Images for 1 Hotels)

Blackstone, Starwood pick up stakes in Extended Stay America

Blackstone, Starwood pick up stakes in Extended Stay America
Clockwise from bottom left: 62-60 99th Street in Rego Park, 850-870 Third Avenue in Sunset Park and Square Mile Capital’s Craig Solomon with renderings of 550 Clinton Avenue in Brooklyn (Credit: Google Maps; Getty Images; Morris Adjmi Architects)

These were the top outer borough loans last month

These were the top outer borough loans last month
Blackstone's Jonathan Gray, Gaedeke Group's Sabine Gaedeke Stener and 44 Wall Street (Credit: Stener by Gaedeke Group; Gray by Drew Angerer/Getty Images, 44 Wall Street via Google Maps)

Blackstone sells office tower at 44 Wall Street for $200M

Blackstone sells office tower at 44 Wall Street for $200M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...