Blackstone buys … a lot

September 14, 2015 admin

Once again, The Blackstone Group has made a huge splash with its high-priced acquisitions. Last week alone, the firm made three big property acquisitions.

Blackstone Real Estate Partners VIII agreed to acquire Strategic Hotels & Resorts in deal worth $6 billion. In addition, the mega-fund purchased a free-market rental-housing portfolio in Manhattan for $690 million. And the firm acquired a 49 percent interest in the Market Square East and West office complex in Washington, D.C., for $291.6 million.

Blackstone raised $1.9 billion for real estate investment in second quarter 2015 and $18.3 billion year-to-date. The majority of Blackstone’s property activity in the first half of the year came from BREP VIII; the mega-fund closed earlier this year with $15.8 billion in equity commitments.

Other headlines this year include:

To view more IREN news headlines, go to the IREI NewsCloud. Or to view the most recent weekly wrap-up with IREN Friday, click here. Remember to sign up for our email alerts to get daily original news and more coverage of the global real estate investment industry.

Not a subscriber to IREI Insights blog? Sign up to receive alerts on new blog posts.

AndreafinalwebAndrea Waitrovich is editor of IREN and web content editor of Institutional Real Estate, Inc.

Previous Article
12 mega-trends changing the hospitality business
12 mega-trends changing the hospitality business

Travel just isn’t what it used to be. It’s better. At least in some ways....

Next Article
The future of smart properties
The future of smart properties

In 1999, the Disney Channel released a movie called Smart House. I was seven...