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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

Published Mon, Jun 8, 2015 · 09:50 PM
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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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