New York firm leading South Florida buying charge

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
Blackstone chair, CEO and co-founder Stephen Schwarzman and RangeWater Real Estate CEO Steven Shores with the complex (Getty, LinkedIn via Shores, One Boynton)
Blackstone buys Boynton Beach apartment complex for $171M
Blackstone buys Boynton Beach apartment complex for $171M
Landlords keep raising office space rents despite a grim outlook for vacancy rates (Getty)
Miami office vacancy rates reach Great Recession levels
Miami office vacancy rates reach Great Recession levels
David Martin and Russell Galbut with a rendering of 500 Alton Road
Miami Beach developers nab $345M construction loan for 500 Alton
Miami Beach developers nab $345M construction loan for 500 Alton
Blackstone’s Jon Gray and 2MiamiCentral (Getty, iStock)
Blackstone buys MiamiCentral office buildings for $230M
Blackstone buys MiamiCentral office buildings for $230M
Stephen Schwarzman with the site (Getty, Google Maps)
Blackstone pays $21M for Doral industrial dev site
Blackstone pays $21M for Doral industrial dev site
Blackstone's Jon Gray and 2MiamiCentral (Getty)
Blackstone inks lease at MiamiCentral in downtown Miami
Blackstone inks lease at MiamiCentral in downtown Miami
Blackstone's Jonathan Gray and Stephen Schwarzman (Getty, iStock)
Blackstone to open office in South Florida
Blackstone to open office in South Florida
Jon Gray, 16100 Northwest 49 Avenue and 16200 Northwest 49 Avenue, Miami Gardens (Credit: Google Maps)
Blackstone snags eight industrial properties in Miami-Dade
Blackstone snags eight industrial properties in Miami-Dade
arrow_forward_ios

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

Loading...