January 12, 2023
Blackstone Sells Off Most Of Its Suburban Chicago Multifamily Properties
Blackstone is on a selling spree in the Chicago area, recently offloading several multifamily properties...

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.

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