Private markets are set to see trillions of dollars of inflows as wealthy individuals gain greater access to an industry once dominated by institutional investors, according to a senior managing director at Blackstone Inc.
Blackstone Inc., the world’s largest commercial property owner, said the worst is over for the global office market after a prolonged slump fueled by the pandemic.
It’s been three years since Blackstone’s last big move in Manhattan’s office market. In 2022, the company acquired a 49 percent stake in One Manhattan West from Brookfield and the Qatar Investment Authority, a deal valuing the 67-story tower at $2.85 billion.
Goldman Sachs (GS) joined a growing list of buyers picking up warehouse properties across the U.S. The bank’s alternative investment arm has purchased a portfolio of 21 industrial buildings spread across Nevada, Texas, Ohio and Pennsylvania from Blackstone (BX) for $293 million, according to Bloomberg, which first reported the news.
Blackstone Inc. took in US$630 million from a fundraising effort that targeted wealthy Canadian investors, according to a person familiar with the matter, bringing assets in its first private equity fund for individuals to about $8.
The chief operating officer of the investment giant said high-quality assets in strong markets were being priced at attractive discounts.
Financial writer discusses Blackstone's interest in rebounding office market, potential property investments, and strong earnings results.
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