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Blackstone targets Brazil buys as property values tumble
Group bargain-hunts along with Brookfield Asset Management and JPMorgan Chase and is opening a Sao Paulo office
Add BT as a preferred sourcePublished Mon, Jun 8, 2015 · 09:50 PM
Sao Paulo
AFTER tripling its money on big US real estate bets, Blackstone Group LP is taking on Brazil.
The Visconde de Inhauma Corporate, which Blackstone bought with its Brazilian partner in December, has a modern metal sculpture in the lobby and Chevron Corp as a tenant. The 18-storey glass edifice, surrounded by buildings in disrepair and graffiti-covered walls, stands tall in a sinking real estate market.
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