The tab is in for Blackstone’s massive 2015 buying spree: $9.6 billion.
That total – which included the purchase of Stuyvesant Town and a partnership stake in a six-building office portfolio – made the private equity giant the city’s most aggressive buyer last year.
The firm also sold $4.2 billion in property, Bloomberg reported, citing data from Real Capital Analytics.
The firm bought Stuy Town along with Ivanhoe Cambridge, from a group led by CWCapital Assessment management, closing in December. The partners paid $5.3 billion (or was it $5.46 billion?)
Earlier this year, Blackstone went into contract to buy a 50 percent stake in a portfolio of six office buildings – Including 620 Sixth Avenue, 1330 Sixth Avenue, 340 Madison Avenue and the Starrett-Lehigh Building at 601 West 26th Street – from Scott Rechler’s RXR Realty. The deal valued the portfolio at $4 billion.
Back in August, The Real Deal profiled the firm’s real estate division and its head Jonathan Gray, investigating whether its dramatic growth could continue. [Bloomberg] – Ariel Stulberg