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Blackstone sees more asset sales, takeovers in US

Investors too bearish and property market's decline creates opportunity

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SEEING MORE VALUE: Real estate investment trusts are trading at discounts to the values of their properties on the private markets.

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