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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

Blackstone sees some Brazilian developers in trouble, needing capital to continue developments, and hopes to provide that capital, buying buildings that are already generating cash flow.

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-

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