Blackstone surpasses Brookfield as world’s biggest real estate manager

Private equity firm has $160B worth of property under management

Miami /
May.May 31, 2017 02:30 PM

From TRD New York: Blackstone is once again the world’s largest real estate manager after overtaking Brookfield Property Partners last year.

Blackstone’s real estate assets grew 6 percent in 2016 to $160 billion, the Financial Times reported. Brookfield slipped to the second spot with $158 billion in assets, an increase of 2.6 percent.

PGIM, the investment arm of Prudential, took the third-place spot with $130 billion, and TH Real Estate, the property arm of Chicago-based asset manager Nuveen Investments, was the fourth-largest with $103 billion in assets.

Property managers raised $137 billion in new capital last year, down a tick from the record $139 billion raised in 2015, according to data from Inrev, a European association that represents investors in non-listed real estate companies.

Brookfield created the world’s largest global property fund last year, raising $9 billion from more than 100 institutional investors.

Fund managers have raised more than $560 billion in new capital since the beginning of 2012, and all that money has pushed real estate prices higher. Inrev research director Henri Vuong said “deploying capital is becoming more challenging for managers” considering how much money has been raised over the past few years.

Blackstone’s Jonathan Gray, however, said large capital flows from institutional investors would not necessarily lead to a real estate bubble.

“We are not seeing the same excesses that we saw in the pre-crisis years,” he said. [FT]Rich Bockmann


Related Articles

arrow_forward_ios
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
Shlomo Khoudari, Managing Partner at Elion Partners, and Stephen A. Schwarzman, CEO of the Blackstone Group, with 1800-1880 North Commerce Parkway, Weston, and 3400-3450 Park Central Boulevard, Pompano Beach (Credit: Google Maps)

Blackstone pays $46M for Broward industrial properties

Blackstone pays $46M for Broward industrial properties
Brookfield’s Brian Kingston and 14100 Northwest 60th Avenue (Google Maps)

Brookfield snags Miami Lakes warehouse for $22M

Brookfield snags Miami Lakes warehouse for $22M
Diane Von Furstenberg, Brookfield Properties Bruce Flatt, and the DVF store in the Shops at Merrick Park (Getty, Google Maps)

Brookfield seeks to evict Diane Von Furstenberg at Merrick Park

Brookfield seeks to evict Diane Von Furstenberg at Merrick Park
Shane Neman, and Mauricio Bello Richard Waserstein, with 525 Northwest 77th Street Marriott in Boca

Blackstone sells Marriott hotel in Boca Raton

Blackstone sells Marriott hotel in Boca Raton
arrow_forward_ios

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

Loading...