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Blackstone

August 30, 2023

Blackstone Group retail push returns after property fund redemption panic – reports

Blackstone Group has revived plans to enter the retail market and launch a private equity fund for wealthy investors, according to reports. The company's ambition to launch the Blackstone Private Equity Strategies fund were scuppered in 2022 after it was forced to limit redemptions from its flagship $67bn property fund.

August 30, 2023

Realty Income to invest about $950 million in Bellagio Las Vegas

Realty Income (O.N) signed an agreement with Blackstone's real estate investing firm to invest about $950 million in the Bellagio Las Vegas resort, valuing the assets at $5.1 billion, the companies said on Friday...

August 23, 2023

Blackstone Is the First Alternative Asset Manager to Hit $1 Trillion AUM. So Where Does It Go From Here?

In July, Blackstone BX reported that it had surpassed $1 trillion in total assets under management during the second quarter of 2023, being the first alternative asset manager to cross that threshold. A bit of background to start: “Alternative asset management” is an umbrella term for asset managers that specialize in private market investment strategies like private…

August 22, 2023

NAV REITs Report Positive Median Total Returns for July

The median monthly total return for 16 continuously offered nontraded REIT programs (“NAV REITs”) was 0.21% in July, compared to just 0.01% in June. Ten of the 16 reported positive total returns.

August 16, 2023

Blackstone Names Harper BREIT President While Agarwal Goes on Leave

Blackstone Inc.’s $68 billion real estate trust said its president A.J. Agarwal will go on a sabbatical for nine months and Rob Harper will fill that role...

August 16, 2023

US REIT capital offering activity down more than 38% month over month in July

Capital markets activity by US equity real estate investment trusts slowed in July as the industry collected a total of $4.25 billion, a more than 38% drop from the $6.87 billion raised in June but a massive jump from the $426.4 million raised a year earlier...

August 8, 2023

Rising Interest Rates a Boon for Blackstone BDC, Interval Fund Investors

As interest rates continue to rise, investors in Blackstone’s business development company (BDC) and interval fund are seeing a similar spike in distribution payments, reflecting the asset manager’s profit-generating prowess amid extended economic turbulence. On Blue Vault’s July 26 webinar, A Deeper Look at Blackstone, Senior Financial Analyst Luke Schmidt said both funds are performing…

August 2, 2023

Blackstone & QTS to spend $8bn building new data centers, as investor prepares for “once in a generation” AI boom

Blackstone’s $68 billion flagship property fund is selling assets and preparing to spend billions on data centers. The Financial Times reports that the Blackstone Real Estate Income Trust, or Breit, plans to pump $8bn into building new data centers through its asset QTS Data Centers, as it predicts a surge in artificial intelligence workloads...

August 1, 2023

Blackstone’s EQ Office sells Costa Mesa office campus at 10% loss

Blackstone has sold an office campus in Costa Mesa for $91.5 million — about 10 percent less than what it assembled it for between 2013 and 2015. MGR Real Estate, run by Michael Rademaker, bought the 553,000-square-foot complex at 3070 and 3100 Bristol Street, according to Orange County property records. The sale came to about $165…