Blackstone sees more asset sales, takeovers in US
Investors too bearish and property market's decline creates opportunity
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Seattle
STOCK investors are too bearish on US real estate, and the market's decline probably will lead to more takeovers of publicly traded landlords, along with asset sales, said Jon Gray, global head of real estate at Blackstone Group LP, the largest private equity investor in property worldwide.
"There's a disconnect, and that creates opportunity," Mr Gray said earlier this week at a conference sponsored by the Pension Real Estate Association in San Francisco. The three-day event is taking place at the Westin St Francis hotel on Union Square, one of 17 high-end urban and resort properties owned by Strategic Hotels & Resorts Inc, which Blackstone has agreed to buy in a US$6 billion deal.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
