Blackstone related stories
All articles and analysis
Perseus: overload of funds chasing debtThe Washington DC-based private equity real estate firm argues there are too few distressed commercial real estate debt opportunities to satisfy the number of fund managers entering the space.
- Apollo Global eyeing RE arm, posing brand clash
Apollo Global Management, the Leon Black-led alternative investment giant, has been actively recruiting real estate professionals to lead a new real estate arm. The move could present a branding challenge to a separate firm called Apollo Real Estate Advisors, in which Black owns a minority stake.
- Blackstone raises €3bn for Europe fund
The New York-based private equity real estate firm is in the final stages of closing its third European real estate fund, Blackstone Real Estate Partners Europe III. The firm is also raising a distressed real estate fund led by former Merrill Lynch Americas real estate head, Mike Nash.
- Obama tops McCain in private equity support
US presidential candidate John McCain has come under fire by the Service Employees International Union for his ties to Kohlberg Kravis Roberts founder Henry Kravis. However, according to the Center for Responsive Politics, it is McCain’s Democratic rival Barack Obama that is pulling in the most money from the private equity industry.
- Blackstone to invest €1bn in North Sea wind farms
The project, one of Blackstone’s first investments in renewables, would construct roughly 80 wind farms off the German island of Helgoland, according to media reports.
- Wellspring registers Dave & Buster’s for $170m IPO
The arcade and dining franchise will use the fresh capital to pay down debt, roughly two years after Wellspring purchased the company in a $375m take-private. Wellspring will retain a controlling interest in the company.
- Largest firms favoured office deals over past five years
Blackstone was the largest buyer of office properties globally between 2003 and mid-2008, according to a new book based on PERE’s list of the top 30 private equity real estate firms in the world. The firm bought more than 159 million square feet of office space during the period totaling $45bn.
- Let the bad times roll
Just a few weeks ago, there was more talk of distressed sellers than actual motivated sellers. Now talk is about to turn into action.
- Blackstone exits EOP Austin office complex
Equity Office Properties, the REIT acquired by Blackstone for $39bn last year, has sold a 1.1m-square-foot office complex in Texas to real estate investment firm Spear Street. The complex includes 13 buildings and two development sites.
- Blackstone’s $160m Shanghai deal still on
Reports that Blackstone had abandoned plans to acquire a majority stake in a new Shanghai development were scotched by the seller, VXL Capital. VXL admitted though the closing date for the deal had been pushed back slightly.