Blackstone Sells Off Most Of Its Suburban Chicago Multifamily Properties
January 10, 2023 | Holly Dutton | Propmodo
Blackstone is on a selling spree in the Chicago area, recently offloading several multifamily properties to investors with portfolios focused on the area. Blackstone Real Estate Income Trust (BREIT), the fund that recently made news for limiting investor withdrawals, sold three multifamily properties recently that combined totaled nearly $250 million. The New York-based firm DRA Advisors purchased two of the properties, while San Francisco-based investor Friedkin Property Group acquired the third property. The majority of BREIT’s holdings, 55 percent, are in rental housing.
