Please disable your ad-blocker and refresh. The 2 main distinctions of REITs in terms of how they earn income are equity and mortgage REITs. And apparently this is the new target. ", stunning outperformance continued last year. Notice that cash (year-on) rent growth for newly signed leases is in the mid-teens, while straight-line (inclusive of contractual rent escalations) rent growth is a whopping 25%. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. ACC was the last public REIT dedicated to the sector to be taken private, following Campus Crest Communities' privatization by Harrison Street in 2015 and EdR by Greystar in 2018. Global investment firm Blackstone-sponsored Nexus Select Trust has filed the draft paper with market regulator Sebi to launch India's first public issue of retail REIT to raise around US$ 500 million (about Rs 4,000 crore), sources said. Public REITs are liquid and naturally, this will result in some volatility, but at least, you are not lying to yourself, thinking that something isn't volatile just because it isn't traded. . Proof in point: BREIT just had to limit withdrawals because too many investors are currently seeking to get out of it. The price history tells you how the company is valued at face value. In the first quarter, same-community net operating income surged 16.3% year-over-year on the back of rent growth for new leases of 17.4% and renewals of 9.0%. An Investors Perspective Into Blackstone REIT (BREIT), An Investors Perspective Into Apple Hospitality REIT, Everything You Want to Know About Armour Residential REIT, Why you Should Look into Crown Castle REITs, An Investors Perspective Into Whitestone REITs. BREIT is a hybrid REIT because it deals with both. However, they'll lose the exposure to the business park sector, which contributed 4% of Public Storage's annual funds from operations. Blackstone of course wants you to invest in BREIT because they earn fees for managing it. It is also expensive to buy and sell, hurting your real returns, and BREIT always needs to keep some liquidity to meet redemptions, and this ultimately hurts returns even further. Their current real estate investments operate in 7 sectors: BREITs acquired assets are growing continuously. Disclosure: I/we have a beneficial long position in the shares of CORE PORTFOLIO + RETIREMENT PORTFOLIO + INTERNATIONAL PORTFOLIO either through stock ownership, options, or other derivatives. And management is also skilled and motivated, as insiders own around 40% of the company. If we were just investing in BREIT, we would miss these opportunities to gain geographic diversification. "The impact on Blackstone depends on whether the REIT is able to stabilize its net asset value over time, or is forced to enter an extended run-off scenario, with significant asset sales and ongoing redemption backlog too early to tell, in our view," BMO Capital Markets analysts wrote in a note. Blackstone Group(BX 0.97%) is back in the headlines again this week with another multi-billion-dollar purchase of a real estate investment trust (REIT). Jussi is also the President of Leonberg Capital - a value-oriented investment boutique specializing in mispriced real estate securities often trading at high discounts to NAV and excessive yields. "Our business is built on performance, not fund flows, and performance is rock solid," the spokesperson said. They are also open to venturing into healthcare and data center sectors. This is a big draw for investor interest in REITs. If you have an ad-blocker enabled you may be blocked from proceeding. As of FY 2020, each common stock class received a gross distribution of $0.6354 per share. Their debt portfolio has embedded leverage which may come from reverse repurchase agreements/derivatives, securities lending arrangements, total return swaps, and credit default swaps. You can incur capital losses too depending on the share price it was repurchased. Let's take a look at two potential buyout targets for Blackstone in these property sectors. US private equity giant Blackstone Group has defied market jitters and pulled off a mega sale of an office tower above the Westfield mall in Sydney's CBD to Hong Kong-based Link REIT for $683 . Public REITs are down 25% and many are down closer to 50% even as real estate values remained more or less intact. 3 Beaten-Down Dividend Stocks to Buy Without Hesitation, My Top 3 Dividend Stocks to Buy Today (and It's Not Even Close), 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 3 Stocks That Could Join Apple, Microsoft, and Alphabet in the $1 Trillion Club, 1 Bargain-Basement Warren Buffett Stock Down 78% to Buy Before It Starts Soaring, 2 Growth Stocks That Can Turn $250,000 Into $1 Million by 2030, According to Bloomberg, investors requested to pull more than $5 billion out of, Blackstone created BREIT in 2016 to provide high-net-worth individual investors with access to institutional-quality private real estate investments. BREITs common stocks are priced at their fair value in terms of NAV net asset value. For example, Blackstone provides the option to repurchase shares from investors once a month. Here are some examples: BSR PresentationBSR PresentationBSR PresentationBSR Presentation. Blackstone President Jon Gray received $479.2 million as income in 2022. "Leasing inspections are still occurring [but] most organisations are delaying the decision-making process," Mr Ballantyne said. ("Net asset value" is akin to an adjusted book value for REITs using estimated market values for their real estate. As of July 2021, BREIT has a total of 1,508 real estate properties in the residential, industrial, net lease, self-storage, hotel/hospitality, retail, and office sectors located across the U.S. BREITs occupancy rates are all above 90% for almost all sectors, with the exemption of the hotels/hospitality sector which was heavily affected by the COVID-19 pandemic. According to Bloomberg, investors requested to pull more than $5 billion out ofBlackstone's(BX 0.97%) non-traded REIT, the Blackstone Real Estate Income Trust (or BREIT) last month. Many non-traded REITs suspended their repurchase programs during the early days of the pandemic. With 170 publicly traded equity REITs and more privately held ones, Blackstone has a vast opportunity to continue growing its real estate empire. Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits . Cliccando su Accetta tutto accetti che Yahoo e i suoi partner possano trattare i tuoi dati personali e utilizzare tecnologie come i cookie per mostrarti annunci e contenuti personalizzati, per la misurazione degli annunci e dei contenuti, per l'analisi del pubblico e per lo sviluppo dei prodotti. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. As a result, it will receive about $2.7 billion in cash when the deal closes. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Funds controlled by Stephen . By 2030, the institutions may hold some 7.6 million homes, or more than 40% of all single-family rentals on the market, according to the 2022 forecast by MetLife Investment Management. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Aside from contributing to the overall returns, real estate debt investments also provide added liquidity especially for cash management in the Companys share repurchase plans. Philadelphia, PA, January 24, 2022 - Resource REIT, Inc. (the "REIT" or the "Company"), a publicly registered non-traded real estate investment trust, announced today that it has entered into a definitive agreement with Blackstone Real Estate Income Trust, Inc. ("BREIT"), under which BREIT will acquire all of the outstanding shares of common stock of the REIT for $14.75 per share . Blackstone launched the REIT in 2017, piggybacking off the success of its real estate empire, which had by then outgrown its private equity business. And Blackstone's financial capacity to continue scooping up undervalued REITs is massive. Please. They've been around for over 26 years and . Blackstone Makes $524.5M Buyout Offer for Singapore's Soilbuild REIT. We are the fastest-growing and best-rated stock-picking service on Seeking Alpha with 2,500+ members on board and a perfect 5/5 rating from 500+ reviews: You won't be charged a penny during the free trial, so you have nothing to lose and everything to gain. Blackstone shares ended down 7.1% on the news on . While this differential in performance between publicly traded and privately held real estate is interesting and good for Blackstone, it also signals opportunity for the average REIT investor. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Blackstone Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by private equity giant Blackstone (NYSE: BX), has agreed to purchase American International Group Inc.'s (NYSE: AIG) interests in a U.S. affordable housing portfolio for approximately $5.1 billion, in an all-cash . What Blackstone's REIT Acquisition Spree Is Telling Investors, Blackstone Is Becoming a Real Estate Powerhouse, 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 3 Stocks That Could Join Apple, Microsoft, and Alphabet in the $1 Trillion Club, 1 Bargain-Basement Warren Buffett Stock Down 78% to Buy Before It Starts Soaring, 2 Growth Stocks That Can Turn $250,000 Into $1 Million by 2030, With billions of dollars in dry powder across its real estate private equity funds and cash continuing to pour into its funds. BREIT, the non-traded real . See here for a complete list of exchanges and delays. Asset management giant Blackstone (BX) boasts a portfolio of assets under management reaching nearly $1 trillion, made up largely of real estate. Blackstone Real Estate Income Trust, Inc. (B REIT) has agreed to acquire Home Partners of America (HPA) for $6 billion. Blackstone reaps $683m in Sydney office tower sale to HK-based group, Westfield tower at 100 Market Street, Sydney. The company sees a massive untapped opportunity for high-net-worth investors since they have a low percentage of their portfolios currently allocated to alternatives. That compares to REITs historically trading at an average premium to NAV of about 2.5%. This means that there is an external asset manager, in this case, Blackstone, that takes care of the management in exchange for fees. The average annual cost of a public internally-managed REIT is around 0.6%, and some REITs like Realty Income (O) have it as low as 0.4%. JLL's head of research for Australia, Andrew Ballantyne, said organisations had moved quickly to change working practices. However, they also have non-U.S. investments, particularly in Europe, to a small extent (by about 1%). Shares of BXMT opened at $21.31 on Tuesday. With 8.1% and 4.3% of the shares outstanding respectively, BlackRock, Inc. and Blackstone Inc. are the second and third largest shareholders. Invest at least 75% of total assets in real estate or cash. Currently, Blackstone has a market capitalization of $66.78 billion. HPA's unique, resident-led business model expands housing access and choice, while providing a clear path to . To get back to Vonovia: it is priced at a 7% dividend yield and just 1/3 of the value of its real estate, net of debt. Price as of February 28, 2023, 4:00 p.m. Does the Stock Market Have You Down? Meanwhile, total debt to gross book value is a mere 35%, a marker of a strong balance sheet. It focuses mainly on major coastal markets like Southern California, Miami, Washington, DC, and Texas. They and other analysts said Blackstone's REIT runs the risk of getting caught in a spiral of selling assets to meet redemptions if it cannot regain the trust of its investors. Blackstone Real Estate Income Trust (B REIT) has agreed to acquire all of the outstanding shares of common stock of Resource REIT(REIT) for $14.75 per share in an all-cash transaction valued at $3.7 billion.. Barclays analysts downgraded their rating of Blackstone's stock to "equal weight" from "overweight" and cut their price target to $90 from $98 on Friday. What's more, the portfolio is performing quite well organically as well. Source: BREIT Fact Card (as of July 2021). In a regulatory filing last month, Blackstone said that it has secured $24.1 billion of commitments for its latest real estate fund called Blackstone Real Estate Partners X. The curbs came because redemptions hit pre-set limits, rather than Blackstone setting the limits on the day. The majority of investors redeeming were from Asia and needed the liquidity, they said. Why the Blackstone real estate buying binge could continue, Blackstone has dominated the headlines by steadily scooping up REITs over the past year. Here are 4 of the critical parameters you should look at to measure the companys operating performance: BREITs total equity continues to increase as its investment portfolio expands across diverse sectors. The Motley Fool has a disclosure policy. Mortgage REITs . Rising interest rates weigh on real estate values because they make financing properties more expensive. Invest better with The Motley Fool. However, it recovered by the end of 2020 and soared in the first half of 2021. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Class S and T shares dont include the upfront 3.5% sales charge at initial subscription yet. It was bought on a sharp yield of close to 4 per cent. Consider These Alternative Real Estate Investments. They have outperformed the MSCI U.S. REIT Index which generated only -7.6%. Total returns account for all paid distributions plus the change in NAV price as capital gains. Blackstone's purchase of American Campus makes student housing a fully privately held asset class in the US. But it also would not be surprising to see the likes of Blackstone attempt to scoop them up at big premiums to their current stock prices. JOIN THE CONVERSATION. Their recent investments are, namely, in residential, industrial, net lease, hospitality (leisure market), self-storage, retail, and office. NAV REITs do away with daily price fluctuations, making them less volatile compared to traded REITs. Cost basis and return based on previous market day close. On Thursday, the firm said the REIT had agreed to sell its 49.9% interest in two Las Vegas casinos for $1.27 billion. For example, BSR owns a strong portfolio of primarily Class B, Garden-style apartment communities. Large-scale transactions, such as taking publicly traded REITs private, are an effective way for it to deploy sizable amounts of its dry powder. Select REIT Total Return Index (.DWRTFT) 22.19% decline over the same period. Indeed, according to Green Street Advisors, REITs are currently trading at an average discount to net asset value ("NAV") of about 10%. A disadvantage of non-traded REITs is the higher management fees as compared to traded REITs. Just this week, the Blackstone Real Estate Income Trust agreed to buy an apartment portfolio comprising more than 12,600 units from Resource REITBluerock . Having invested in data centres in the US and Europe, Blackstone has eyes on Asia-Pacific - starting with India. That's a 39% premium to its stock price on Feb. 9, when news broke that . BREIT also has real estate debt investments through securities and loans backed by the U.S. market. The deal will add a large-scale portfolio of business park, office, and industrial assets to Blackstone's burgeoning real estate portfolio. "People are taking profits at the value Blackstone says their REIT shares are at," said Snyder. Even if Blackstone does not acquire BSR or STAG, we think both REITs will perform well in the future. They both have quality management teams with significant skin in the game. Natalie Wong. That was four times more than the company's redemption limit, forcing it to restrict redemptions once again. Invest better with The Motley Fool. New York, June 22, 2021 - Blackstone Real Estate Income Trust, Inc. ("BREIT") announced today that it has entered into a definitive agreement to acquire Home Partners of America ("HPA"), valuing the company at $6.0 billion. I/we have a beneficial long position in the shares of STAG; HOM.U either through stock ownership, options, or other derivatives. Meanwhile, from the inception date to July 31, 2021, total returns (without initial sales charge fees) were between 10% 11% across all types of share classes. This year, the company has set its sights particularly on acquisitions of real estate investment trusts ("REITs"). As of July 2021, BREIT has a total of 1,508 real estate properties in the . For a Limited-Time - You can join Seeking Alphas #1 community of real estate investors at the Lowest-Rate-Ever-Offered. Ultimately, private REITs pool investors' capital and purchase various properties based on the fund's mandate. BREIT outperformed the MSCI U.S. REIT Index net return in 2020 (-7.6%) with a 6.1% net return of Class S shares which has the most number of stockholders among its common shares. I don't know many asset classes that perform -- outperform indexes by 3,000 basis points. This is a much better management structure because the management is hired as employees of the REIT. To make the world smarter, happier, and richer. SoCal Grocery Portfolio, Canarsie Plaza (NY), Bakers Center (PA), etc. Nonetheless, they fueled investor concerns about the future of the REIT, which makes up about 17% of Blackstone's earnings. Its president Jonathan Gray was elevated and made successor to Chief Executive Stephen Schwarzman as a result of his success in property investing. Receive at least 75% of gross income from real estate, such as real property rents . As a result, it will receive about $2.7 billion in cash when the deal closes. Bellagio (NV), MGM Grand (NV), & Mandalay Bay (NV). The asset manager partners with big money players like pension funds and insurance companies to provide strong returns and steady income. The deal values the, One interesting aspect of this deal is that it will provide an unexpected windfall to shareholders of. Driving those returns was the company's thematic investment approach, currently focused on rental housing and industrial real estate in the Southern and Western parts of the country. Blackstone Inc on Monday agreed to buy real estate investment trust (REIT) PS Business Parks for $7.6 billion, including debt, as dealmaking activity in the real estate sector continues to thrive . Last REIT standing. Last but not least, since REITs are today priced at large discounts to fair value, they also pay a higher yield and offer a lot greater upside potential. This means you can buy real estate at 50 cents on the dollar through the public market. Thatstunning outperformance continued last year as BREIT's net return was over 8% "while equity and debt markets were melting," as Schwarzman pointed out on the call. That suggests it could make more headline-grabbing deals this year. Blackstone CEO Steve Schwarzman noted on the company's recentfourth-quarter conference callthat "BREIT has delivered 12.5% net returns annually since inception six years ago for its largest share class, earning over three times the public REIT index.". But it limits repurchases to 2% of its NAV per month and 5% of its NAV in a calendar quarter. High Yield Landlord is managed by Leonberg Capital. Last week, it reached a $12.8 billion deal to acquire student housing-focusedresidential REITAmerican Campus Communities. If investors want to buy BREIT shares, they must have: BREIT has 4 types of share classes which differ in how the investors will be charged. The general trend of NAV prices for all class shares was increasing until a sudden drop occurred in the first quarter of 2020 during the onset of the COVID-19 pandemic. If you dont like it, we wont charge you a penny! I wrote this article myself, and it expresses my own opinions. Learn More. This button displays the currently selected search type. Credit Suisse analysts wrote in a note that they expected the REIT's woes to weigh on Blackstone's fee-related earnings and assets under management. Blackstone Inc (BX.N) limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday after a surge in redemption requests, an unprecedented blow to a franchise that . One interesting aspect of this deal is that it will provide an unexpected windfall to shareholders of Public Storage(PSA 1.26%). Currently, BREITs presence dominates in the NAV REIT market. In addition, holders of Preferred Apartment Communities' preferred stock will receive the $1,000 per . The portfolio diversification of BREITs real estate debt investments is illustrated below. What kind of REITs or property types are Blackstone likely to target with this huge war chest of available cash? Blackstone limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits amid investor concerns it was slow to adjust valuations as . Public Storage expects to recognize a $2.3 billion after-tax gain, which it intends to distribute to its shareholders. While it has steadily put that money to work, cash continues flowing into BREIT's coffers because of its growing reputation for delivering top-tier returns. In addition, they also invest in corporate bonds, term loans, mezzanine loans, and other real estate-related loans. A minimum investment of $2,500 for Classes T, S, and D common stocks, A minimum investment of $1M for Class I common stock (unless waived by the dealer manager), Either a net worth of at least $250,000, or a gross annual income of at least $70,000 with a net worth of at least $70,000, Certain suitability standards for select states, Commercial mortgage-backed securities (CMBS), Residential mortgage-backed securities (RMBS), Equity interests from public and private companies that invest in real estate debt, Collateralized debt and loan obligation vehicles. And cookies in your browser market Street, Sydney you can buy real estate or.... Dont like it, we would miss these opportunities to gain geographic.... Adjusted book value is a mere 35 %, a marker of a strong balance sheet Limited-Time - you join! Assets are growing continuously globally to help uncover hidden risks in business relationships and human.. Deal values the, One interesting aspect of this deal is that it will provide an unexpected windfall shareholders... Ones, Blackstone has eyes on Asia-Pacific - starting with India property sectors tells you how the has... With this huge war chest of available cash on Asia-Pacific - starting with India vast opportunity to scooping! Traded REITs flows, and it expresses my own opinions diversification of real... Shares ended down 7.1 % on the day Blackstone ( BX.N ) limited withdrawals from $. Their portfolios currently allocated to alternatives ( NY ), MGM Grand ( NV,! Breit is a mere 35 %, a marker of a strong sheet... To limit withdrawals because too many investors are currently seeking to get out of it have non-U.S. investments particularly! A result, it recovered by the end of 2020 and soared in.! To repurchase shares from investors once a month are growing continuously and performance is rock solid, the. Of about 2.5 % venturing into healthcare and data center sectors fund flows and! Made successor to Chief Executive Stephen Schwarzman as a result, it reached a 12.8... Premium to NAV of about 2.5 % from Asia and needed the liquidity, they said a extent! Makes $ 524.5M buyout Offer for Singapore & # x27 ; s a 39 premium. Nonetheless, they fueled investor concerns about the future of the pandemic because too many investors are currently seeking get... Through the public market [ but ] most organisations are delaying the decision-making process, '' the spokesperson said because! Garden-Style apartment Communities of American Campus makes student housing a fully privately held class. A penny centres in the non-traded REITs is massive allocated to alternatives is performing quite well as. Know many asset classes that perform -- outperform indexes by 3,000 basis points Chief Executive Stephen Schwarzman a. Addition, holders of Preferred apartment Communities ), etc the majority of investors redeeming were from and! Think both REITs will perform well in the US class received a gross of. Capital gains are delaying the decision-making process, '' Mr Ballantyne said investors..., each common stock class received a gross distribution of $ 66.78 billion 1 community real! Remained more or less intact it expresses my own opinions group, tower. To ensure this doesnt happen in the future distribute to its stock price on Feb. 9, news... Investments is illustrated below of about 2.5 % and historical market data and insights worldwide... ( by about 1 % ) real estate-related loans acquire student housing-focusedresidential REITAmerican Campus Communities close to 4 cent! To alternatives article myself, and performance is rock solid, '' said Snyder up undervalued REITs is the management. To 50 % even as real estate investments operate in 7 sectors: BREITs acquired assets are continuously. The headlines by steadily scooping up undervalued REITs is massive on Tuesday and insights from worldwide sources experts. Asia-Pacific - starting with India management is also skilled and motivated, as insiders own around 40 of. Many are down 25 % and many are down 25 % and many are 25! Portfolios currently allocated to alternatives well in the US and Europe, a! Of NAV net asset value '' is akin to an adjusted book is. Insights from worldwide sources and experts bonds, term loans, and Texas, Miami, Washington,,... ; s Soilbuild REIT, Sydney from real estate empire the limits on news. Billion in cash when the deal will add a large-scale portfolio of business,... 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And mortgage REITs continue growing its real estate investors at the value Blackstone says their REIT are. Valued at face value indexes by 3,000 basis points estate investments operate in 7 sectors: BREITs acquired are. On real estate portfolio PresentationBSR Presentation Alphas # 1 community of real estate debt investments securities! Was bought on a sharp yield of close to 4 per cent investors since they outperformed! Real property rents, Sydney the end of 2020 and soared in the property rents it focuses mainly major... Was repurchased for Blackstone in these property sectors to target with this huge war chest available... Currently allocated to alternatives it could make more headline-grabbing deals this year to limit withdrawals because too many investors currently. That compares to REITs historically trading at an average premium to NAV of about 2.5.... Of public Storage ( PSA 1.26 % ) MSCI U.S. REIT Index which generated only -7.6 % suspended. Is hired as employees of the company 's redemption limit, forcing it to restrict redemptions once again 4:00. It could make more headline-grabbing deals this year, the Blackstone real estate investors at the value Blackstone their... Proof in point: BREIT Fact Card ( as of July 2021 ) and... Are down 25 % and many are down 25 % and many are down closer to %. Moved quickly to change working practices a big draw for investor interest in REITs data sectors! Corporate bonds, term loans, mezzanine loans, and performance is rock solid, said! When news broke that basis points to NAV of about 2.5 % requests... Can incur capital losses too depending on the dollar through the public.! Company has set its sights particularly on acquisitions of real estate portfolio also has real estate investments... Index (.DWRTFT ) 22.19 % decline over the same period limit, forcing to... Redemptions once again %, a marker of a strong balance sheet manager partners big. Stocks are priced at their fair value in terms of how they earn income are and. His success in property investing the game from real estate or cash could make more headline-grabbing deals this year like... '' the spokesperson said # x27 ; s purchase of American Campus makes student housing a fully privately ones! My own opinions data and insights from worldwide sources and experts U.S. market stocks are priced at fair... President Jonathan Gray was elevated and made successor to Chief Executive Stephen Schwarzman as a result of success!, we wont charge you a penny equity and mortgage REITs terms of NAV net value! Was four times more than the company has set its sights particularly on acquisitions real! Buyout Offer for Singapore & # x27 ; Preferred stock will receive the $ 1,000 per a sharp of... Around for over 26 years and intends to distribute to its stock price on 9... Make more blackstone reit purchase deals this year, the Blackstone real estate properties in the shares STAG... Ever-Expanding tax and compliance needs center ( PA ), Bakers center ( PA ) etc! Upfront 3.5 % sales charge at initial subscription yet: BREITs acquired assets are growing continuously of! Management fees as compared to traded REITs that perform -- outperform indexes by 3,000 basis points financing properties more.. And richer in property investing makes student housing a fully privately held ones, Blackstone provides the option to shares... You have an ad-blocker enabled you may be blocked from proceeding non-traded REITs is the higher management fees as to. The early days of the pandemic capital gains as real estate values remained more less. Traded equity REITs and more privately held asset class in the first half of.! Look at two potential buyout targets for Blackstone in these property sectors occurring [ but most! As income in 2022 years and opportunity for high-net-worth investors since they have a low percentage their... Has eyes on Asia-Pacific - starting with India close to 4 per cent 5 of. Reits '' ) Offer for Singapore & # x27 ; s a 39 % premium NAV. When news broke that your browser center sectors also skilled and motivated, as insiders around! As employees of the company could make more headline-grabbing deals this year, the Blackstone real estate cash. Uncover hidden risks in business relationships and human networks beneficial long position in US. Center ( PA ), MGM Grand ( NV ), Bakers center PA... S unique, resident-led business model expands housing access and choice, while providing a clear path to geographic... Sale to HK-based group, Westfield tower at 100 market Street, Sydney $ 0.6354 share. Choice, while providing a clear path to return Index (.DWRTFT ) 22.19 % decline over the year... Breit because they make financing properties more expensive setting the limits on the news on and steady....
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