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Posts Tagged ‘blackstone group’

  • Blackstone pays $12.5M for two Orlando warehouses

    The warehouses are among several Orlando properties Blackstone has acquired this month
    April 22, 2017 02:00PM

    Southport Industrial Center at the Airport Industrial Park of Orlando (Source: Orlando Business Journal)

    An arm of The Blackstone Group bought two warehouses near Orlando International Airport for $12.5 million, or $99 per square foot.

    A unit of Blackstone called Equity Office Management LLC bought the two warehouses from an entity linked to High Street Realty Co., based in Boston.

    High Street Realty had paid $10 million in [more]

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  • Blackstone reveals cash reserves of $32.2B for RE investments

    The company sold $21 billion in real estate over the past year
    April 21, 2017 06:00PM

    Blackstone CEO Stephen Schwartzman (Getty Images)

    From TRD Los Angeles: Thanks in part to some major real estate sales, the Blackstone Group has $32.2 billion in dry power to invest in global real estate.

    That allocation represents about one-third of the $94.3 billion it has to invest across all asset classes, IPE Real Estate reported. Blackstone’s total real estate assets under management are worth about $101.2 billion, according to its most recent earnings report.

    The company sold $21 billion in real estate over the past year, including a 25 percent stake in Hilton Worldwide Holdings Inc., which sold to China’s HNA Group. In Los Angeles, it’s selling the Wilshire Palisades building in Santa Monica for about $287 million, or $1,400 a square foot, sources told The Real Deal. [more]

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  • Jon Gray talks “last-mile” logistics and privatizing REITs

    At NYU REIT symposium, Blackstone exec says he also expects cap rates to remain stable in NYC office market
    April 07, 2017 08:45AM

    Jonathan Gray and Barry Vinocour

    From TRD New York: The decline of retail as we know it has an upside, according to Jonathan Gray, Blackstone Group’s global head of real estate, and it’s in logistics.

    “It’s hard not to be enthusiastic about logistics, in particular, around this last mile,” Gray said during a conversation over lunch at the annual REIT symposium hosted by NYU’s Schack Institute at The Pierre Hotel. As online sales eat away at traditional retail, the industrial space needed to support that activity increases, he said, particularly “last mile” distribution centers. “If you need to get to the customer in an hour or two, you need to be in Secaucus, or you actually need to be in Manhattan or Brooklyn itself.” [more]

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  • Blackstone president: US real estate market “softer”

    "Opportunities today are scattered," Tony James says
    January 26, 2017 01:30PM
    Tony James

    Tony James

    From the New York website: The Blackstone Group’s real estate business continued to grow in the fourth quarter of 2016, but the company’s president Tony James cautioned that investment opportunities could be harder to come by as the market matures. “The one area that’s a little softer I’d say is real estate in the U.S.,” he said on an earnings call with journalists Thursday morning.

    “I think the opportunities today are scattered and tend to be around some larger multi-property assets,” he said, adding that there is no “big theme that has been really cheap in the U.S.” [more]

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  • Blackstone’s Gray said he was “surprised” by Trump meeting

    President-elect considered the Democrat for Treasury secretary
    December 14, 2016 12:45PM

    Jonathan Gray

    From the New York website: Blackstone Group’s real estate head Jonathan Gray said he was “surprised” when Donald Trump’s transition team invited him to a meeting last month. “I am a Democrat,” he told Bloomberg News.

    Still, he said he took comfort in the meeting “because it signaled that they were reaching out to a broad range of people.”

    The Trump team reportedly considered Gray for the position of Treasury secretary last month. [more]

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  • Wall Street, one of Europe’s biggest landlords, is the target of tenant fury

    American firms have scooped up $237.2B distressed debt
    December 13, 2016 12:45PM

    Wall Street Bull (Credit: Arch_Sam via Flickr)

    From the New York websiteWall Street is Europe’s biggest new landlord. Consequently, it’s also viewed as one of the biggest adversaries of homeowners and renters. [more]

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  • 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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