New York firm leading South Florida buying charge

Blackstone bought six times more than second active investor

TRD MIAMI /
Jun.June 30, 2014 05:15 PM

New York-based private equity firm Blackstone Group has been among the busiest buyers in South Florida, snatching up 1,181 homes for more than $291 million since January 2012 — six times more than next most active investor.

According to a public records analysis by research firm DataQuick, affiliates tied to the group have bought 411 Palm Beach County properties from January through May 2013. That’s more than double the firm bought during the same period last year.

The report also shows Blackstone affiliates having acquired 475 properties in Broward County during that same time period.

Andrew Gallina, a spokesperson for the company that manages Blackstone’s acquisitions, told the Sun-Sentinel the firm has cut its acquisitions by 70 to 80 percent from a year ago in most of its markets, though it still sees Broward and Palm Beach counties as legitimate prospects.

“The opportunity has move on as the market has healed itself,” Gallina said. [Sun-Sentinel-Kerry Barger


Related Articles

arrow_forward_ios
Fordome Investment Group’s Kris Rodriguez and Blackstone’s Stephen Schwarzman (Credit: Getty Images, Google Maps)

Blackstone plans to build new Medley warehouse

Placeholder image

Blackstone sells Weston hotel for $12M

Industrial sales are up

South Florida’s industrial sales jump to over $1B in Q3 2019

Daily Digest Miami

Scaramucci slashes his sights on his Opportunity Zone fund, Florida’s first LGBTQ+ senior housing development breaks ground: Daily digest

Blackstone CEO Stephen A. Schwarzman and 5120 Northwest 165 Street

Blackstone buys two Miami Gardens industrial properties for $14M

3208 Northwest 72 Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps and Getty Images)

Blackstone buys industrial portfolio near Miami airport for $56M

Blackstone CEO Stephen A. Schwarzman and Southwest 13th Court (Credit: Google Maps)

Blackstone snags industrial site in Pompano Beach for $10M

Blackstone CEO Stephen A. Schwarzman, the Exchange Lofts apartments at 115 Northeast Third Avenue in Fort Lauderdale

Blackstone sells the Exchange Lofts in downtown Fort Lauderdale for $23M

arrow_forward_ios
Loading...