Private Equity Likes the Look of Blackstone’s Real Estate Model
Blackstone Group LP | February 13, 2019
In January the 800 Fifth tower in Seattle was sold for $540 million the biggest commercial real estate transaction in the Northwest in three years. The buyer isn’t a typical developer, but investment firm Blackstone, a longtime leader in private equity. The company also recently bought five office blocks and a mall for $1.3 billion in Shanghai. Last fall, Blackstone and a partner bought thousands of railroad arches in England, many of which have been converted into retail spaces, for $1.9 billion.