blackstone reit purchase

US private equity giant Blackstone Group has defied market jitters and pulled off a mega sale of an office tower above the Westfield mall in Sydney's CBD to Hong Kong-based Link REIT for $683 million. Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits . It still has a lot of dry powder after its latest deal, suggesting its shopping REIT shopping spree could continue. There are literally no signs of a slowdown yet for STAG's industrial real estate, and yet the market has punished STAG with a ~35% selloff this year. Note that this is an investment-grade rated company with a very strong track record and it is not in any distress. The majority of their real estate properties are in the residential (especially multifamily homes) and industrial sectors. We spend 1000s of hours and over $100,000 per year researching the market for the most profitable investment opportunities and share the results with you at a tiny fraction of the cost. He added that the REIT had ample cash reserves to "weather pretty much any storm." The deal values theindustrial REITat $7.6 billion. Blackstone Group(BX 0.97%) is back in the headlines again this week with another multi-billion-dollar purchase of a real estate investment trust (REIT). Blackstone Mortgage Trust is not owned by hedge funds. (Reuters) - Cvent Holding Corp, a U.S. software provider that facilitates in-person and virtual meetings, has rejected a $3.9 billion acquisition offer from buyout firm Blackstone . Update 2018-05-11: Blackstone reports that it's leverage has increased from below-average 41% to above average 60% (average for core plus is 50%). Associate Director at Atlantic Group. Despite the COVID-19 pandemic, BREIT achieved a 6.1% net return in 2020 for the Class S shares which has the most number of stockholders among its common shares. Though the dividend yield of ~3.2% may seem low, it is actually quite high compared to the yields of its closest peers in the Sunbelt multifamily space: With over 30% upside to fair value, it would not be surprising if Blackstone at least made an attempt to buy BSR. They earn income by leasing out rental spaces to clients. Price as of February 28, 2023, 4:00 p.m. Since inception date to July 31, 2021, total returns (without initial sales charge fees) were between 10% 11% across all types of share classes. I wrote this article myself, and it expresses my own opinions. Having invested in data centres in the US and Europe, Blackstone has eyes on Asia-Pacific - starting with India. For a Limited-Time - You can join Seeking Alphas #1 community of real estate investors at the Lowest-Rate-Ever-Offered. As of July 2021, BREIT has a total of 1,508 real estate properties in the . Is now still a better time to invest in BREIT, or should you rather consider public REITs? Source: BREIT Prospectus (as of June 30, 2021). We have over 500 five-star reviews from happy members who are already profiting from our real estate strategies. February 27, 2023 new bill passed in nj for inmates 2022 No Comments . Many investors in the REIT are concerned that Blackstone has been slow to adjust the vehicle's valuation to that of publicly traded REITs that have taken a hit amid rising interest rates, a source close to the fund said. Yahoo fa parte della famiglia di brand di Yahoo. Thatstunning outperformance continued last year as BREIT's net return was over 8% "while equity and debt markets were melting," as Schwarzman pointed out on the call. Simply Self Storage, East Coast Storage Portfolio, Cactus Storage Portfolio, etc. In 2021, BREIT raised nearly $25 billion from investors. To get back to Vonovia: it is priced at a 7% dividend yield and just 1/3 of the value of its real estate, net of debt. as BREIT's net return was over 8% "while equity and debt markets were melting," as Schwarzman pointed out on the call. LONDON (Reuters) -While there has been little wider fallout from this week's surge in redemption requests at an unlisted Blackstone real estate income trust (REIT), it is being read by some as a warning sign. It leads to "growth at all costs", which hurts returns, and this is why such externally-managed REITs are disliked by investors. Global investment firm Blackstone-sponsored Nexus Select Trust has filed the draft paper with market regulator Sebi to launch India's first public issue of retail REIT to raise around US$ 500 million (about Rs 4,000 crore), sources said. Blackstone Stock Keeps Soaring Higher. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The deal will add a large-scale portfolio of business park, office, and industrial assets to Blackstone's burgeoning real estate portfolio. Even if you expected its property values to drop a bit, its share price could still double before reaching its net asset value. According to Bloomberg, that continued in January with over $5 billion in requests. Retention remains high, and rent growth for new and renewal leases is rising rapidly. Contrary to traded REITs, BREIT invests in perpetual-life REITs wherein NAV prices are valued daily or monthly with a limited liquidity period. The 100 Market Street site, which sits on top of the Westfield mall on the corner of Pitt Street and is the home of the Australian Taxation Office and retail landlord Scentre Group, will be Link REIT's maiden investment in Australia. That's a 39% premium to its stock price on Feb. 9, when news broke that . This year, the company has set its sights particularly on acquisitions of real estate investment trusts ("REITs"). ET, This 4.5%-Yielding Dividend Stock Has $50 Billion to Continue its Real Estate Buying Binge, 1 Roaring Dividend Stock That's Leading the Market Recovery. TORONTO - Blackstone Real Estate Income Trust Inc. has signed a deal to buy WPT Industrial Real Estate Investment Trust in an all-cash deal valued at US$3.1 billion . It owns mainly rental housing and industrial properties. Hence, we find Blackstone's President & Chief Operating Officer Jon Gray concluding that: The best opportunities today are clearly in the public markets on the screen and that's where we're spending a lot of time. You can buy or sell with minimal fees with just a few clicks of mouse. But it is hard to ignore the huge disparity in valuations between BREIT and Public REITs in today's market. Ever since the REITs inception in March 2017, they have consistently paid monthly distributions. Were sorry, this feature is currently unavailable. The trust's managers said last month they were reviewing options after receiving an unsolicited expression of interest to buy out all its stapled securities. By 2030, the institutions may hold some 7.6 million homes, or more than 40% of all single-family rentals on the market, according to the 2022 forecast by MetLife Investment Management. As of FY 2020, each common stock class received a gross distribution of $0.6354 per share. Is this happening to you frequently? This is why they are today two of our largest holdings in our Core Portfolio. They were down a further 2% on Friday morning at $83.45. Total returns could be higher if you account for the accumulated share distributions throughout your investment years. As an equity REIT, they have a diverse coverage of real estate investments. If you can't get your money back, does the "paper valuation" then have any meaning? Though Blackstone sometimes acquires individual real estate properties, such as The Bellagio in Las Vegas, it more often seeks opportunities to scoop up whole portfolios that will move the needle. Public REITs, on the other hand, trade at a >6% dividend yield in many cases with lower payout ratios, and also offer significant upside potential since they are priced at large discounts to their net asset value. In the . LONDON, Dec 2 (Reuters) - While there has been little wider fallout from this week's surge in redemption requests at an unlisted Blackstone real estate income trust (REIT), it is being read by some as a warning sign. All of these are made possible through sponsorship from the Real Estate Group of The Blackstone Group, Inc. with decades of real estate experience. BREIT has 4 types of common shares which differ in how the investors will be charged. For the first six months of the year, our real estate strategies appreciated 9% to 10% versus a 20% decline in the REIT index, equaling an outperformance of roughly 3,000 basis points. "Our business is built on performance, not fund flows, and performance is rock solid," the spokesperson said. Blackstone is able to purchase giant holdings in a . That, for us at High Yield Landlord, is not enough on its own. It has a strong balance sheet with mostly fixed-rate debt. Invest at least 75% of total assets in real estate or cash. Blackstone Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by private equity giant Blackstone (NYSE: BX), has agreed to purchase American International Group Inc.'s (NYSE: AIG) interests in a U.S. affordable housing portfolio for approximately $5.1 billion, in an all-cash . Today, he is the author of "High Yield Landlord - the #1 ranked real estate service on Seeking Alpha. Digging into Blackstone's latest real estate deal, Blackstone has agreed to pay $187.50 per share in cash for PS Business Parks, a roughly 15% premium to its average share price over the last two months. Three stocks that look particularly appealing considering their high-dividend yields and beaten-up share prices are Blackstone ( BX 0.30%), UMH Properties ( UMH 0.38%), and Mid-America Apartment . A disadvantage of non-traded REITs is the higher management fees as compared to traded REITs. Get them exclusively at High Yield Landlord. As a result, it will receive about $2.7 billion in cash when the deal closes. Driving those returns was the company's thematic investment approach, currently focused on rental housing and industrial real estate in the Southern and Western parts of the country. And apparently this is the new target. While its recently announced deals will utilize some more of that capital, additional money is likely to continue flowing into its coffers. Instead of daily price fluctuations, NAV REITs have a much less volatile movement. Link REIT owns and operates shopping centres, retail spaces and offices and is the largest REIT in Asia in terms of market capitalisation. KentWeakley. BREITs common stocks are priced at their fair value in terms of NAV net asset value. Blackstone Real Estate Income Trust Inc. agreed to buy Resource REIT Inc. in a deal valued at $3.7 billion, expanding its bet on U.S. rental housing. That was . I have no business relationship with any company whose stock is mentioned in this article. Blackstone Mortgage Trust, Inc. has a 12 month low of $20.87 and a 12 month high of $32.90. This is the most important reason. For a more comprehensive brief of BREITs real estate investment portfolio, refer to the table below. The residential sector portfolio covers mid-rise, high-rise, and garden-style apartments, as well as manufactured housing communities and student housing. The REIT is marketed to wealthy individual investors. DISCLAIMER: Jussi Askola is not a Registered Investment Advisor or Financial Planner. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. If we were just investing in BREIT, we would miss these opportunities to gain geographic diversification. I don't know many asset classes that perform -- outperform indexes by 3,000 basis points. As of their Q2 2021 report, total real estate debt investments have a fair value of $5.7B with a weighted average coupon of 5% and a weighted average maturity date of July 5, 2025. 22/06/2021. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Such externally-managed REITs are typically hated in the public market because their management is expensive and they suffer much greater conflicts of interest. Este botn muestra el tipo de bsqueda seleccionado. In fact, Blackstone is close to finalizing what could be the biggest traditional private-equity real estate investment fund in history, according to the Wall Street Journal. So far in 2022, Blackstone has bought or agreed to buy: Preferred Apartment . I wrote this article myself, and it expresses my own opinions. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Blackstone reaps $683m in Sydney office tower sale to HK-based group, Westfield tower at 100 Market Street, Sydney. Blackstone launched the REIT in 2017, piggybacking off the success of its real estate empire, which had by then outgrown its private equity business. The REIT turmoil is a setback for two of Blackstone's strategies that helped it become the world's biggest alternative asset manager with $951 billion in assets: real estate investing and attracting high net-worth individuals. Is this happening to you frequently? ACC was the last public REIT dedicated to the sector to be taken private, following Campus Crest Communities' privatization by Harrison Street in 2015 and EdR by Greystar in 2018. Blackstone Inc limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday after a surge in redemption requests, an unprecedented blow to a franchise that helped it turn into an asset management behemoth. *Average returns of all recommendations since inception. Ultimately, private REITs pool investors' capital and purchase various properties based on the fund's mandate. And management is also skilled and motivated, as insiders own around 40% of the company. Currently, Blackstone has a market capitalization of $66.78 billion. BREIT had been a big growth driver for Blackstone. Clicca su Gestisci impostazioni per maggiori informazioni e per gestire le tue scelte. The REIT also represented a bid to win over high net-worth investors clamoring for private market products, which they believe perform better than those that are publicly traded. Private equity giant Blackstone Group plans to purchase 66 residential complexes in San Diego County for more than $1 billion in one of the biggest real estate transactions in local history. However, he said there were no signs of panic selling as a result of vendor distress "which is encouraging". . BREIT outsources third-party pricing service providers to determine the fair value for these debt investments. As a result, the REIT allowed investors in November to redeem $1.3 billion, equivalent to approximately 43% of investors' repurchase requests. This is its first investment outside China. The curbs came because redemptions hit pre-set limits, rather than Blackstone setting the limits on the day. The stock, however, is only traded over the counter in the US as well as on the Toronto Stock Exchange under the ticker symbol HOM.U. The deal values the, One interesting aspect of this deal is that it will provide an unexpected windfall to shareholders of. Image courtesy of Bluerock Residential Growth REIT. STAG is a ~$10 billion enterprise value industrial REIT specializing in higher yielding, single-tenant net leased properties largely in secondary and tertiary markets. That has put STAG at a 30% discount to NAV, one of the steepest discounts in its history as a public REIT. Like the BPP funds, BREIT doesn't buy fixer-uppers. I am not receiving compensation for it (other than from Seeking Alpha). On Blackstone's third-quarter earnings call in October, Gray blamed REIT redemptions on market volatility, which he said had driven away individual investors from active equity and fixed income funds. Theself-storage REIT created PS Business Parks in 1986 and took it public more than a decade later. The stock has a fifty day moving average price of $22.70 and a 200 day moving average price of $24.69. The curbs came because redemptions hit pre-set limits, rather than Blackstone setting the limits on the day. What Blackstone's REIT Acquisition Spree Is Telling Investors, Blackstone Is Becoming a Real Estate Powerhouse, 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 3 Stocks That Could Join Apple, Microsoft, and Alphabet in the $1 Trillion Club, 1 Bargain-Basement Warren Buffett Stock Down 78% to Buy Before It Starts Soaring, 2 Growth Stocks That Can Turn $250,000 Into $1 Million by 2030, With billions of dollars in dry powder across its real estate private equity funds and cash continuing to pour into its funds. This kind of discount would imply either that BSR's property portfolio is sub-par, that its management is unskilled or conflicted, or that its balance sheet is weak, none of which are the case. BREIT is an externally-managed REIT. Do your own research or seek the advice of a qualified professional. However, they also have non-U.S. investments, particularly in Europe, to a small extent (by about 1%). More investors are entrusting it with more of their capital, giving it the funds to acquire more real estate. Blackstone managed a total of $236 billion of wealth held by individuals as of the end of September, up 43% year-on-year. Clearly, as the Vanguard Real Estate Index (VNQ) has sold off along with the broader market this year, Blackstone believes that there is ample value to be found in REITs. Using different valuation methods, real estate services firm Jones Lang LaSalle (JLL) recently posited that REITs' discount to NAV is over 15%, commenting that a "sustained dislocation in public and private values could be a precursor of opportunities for fundamentals driven private market participants, leading to take-private M&A.". Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits . These properties are overwhelmingly concentrated in Texas, especially Austin, Dallas/Fort Worth, and Houston. Philadelphia, PA, January 24, 2022 - Resource REIT, Inc. (the "REIT" or the "Company"), a publicly registered non-traded real estate investment trust, announced today that it has entered into a definitive agreement with Blackstone Real Estate Income Trust, Inc. ("BREIT"), under which BREIT will acquire all of the outstanding shares of common stock of the REIT for $14.75 per share . The spokesperson added that the REIT relied on a long-term fixed rate debt structure, making it resilient. Jussi Askola is a former private equity real estate investor with experience working for a +$250 million investment firm in Dallas, Texas; and performing property acquisition in Germany. Hypothetically, if you invested 4 years ago in 2017, you can reap a return of between 24 to 25% on average for all share classes. Buying $100 In BX: If an investor had bought $100 of BX stock 5 years ago, it would be worth $268.05 today based on a price of . Click here to learn more!. I have no business relationship with any company whose stock is mentioned in this article. (the "Adviser"). Certain parameters from financial statements will tell you how the company managed its investments through the ups and downs of the business cycle. Do your own research or seek the advice of a qualified professional. Learn More. This gives a hint as to why Blackstone has been hoovering up REITs like a vacuum this year. For instance, in the first quarter of this year, cash same-store net operating income grew 4.8%, while the REIT has guided for same-store NOI to grow 4-5% for the full year. BREIT offers a 4.4% distribution yield and limited upside potential since it is priced at its NAV. The Motley Fool has a disclosure policy. Notes: Class D shares dont include the upfront 1.5% sales charge at initial subscription yet. Deutsche Bank analyst Carlo Santarelli was sufficiently impressed with the fourth-quarter numbers from two casino-oriented real estate investment trusts (REITs) that he reiterated "Buy" ratings on each. With billions of dollars in dry powder across its real estate private equity funds and cash continuing to pour into its funds, Blackstone will likely continue its real estate shopping spree. The 2 main distinctions of REITs in terms of how they earn income are equity and mortgage REITs. Blackstone is the 1000-pound gorilla in any real estate room. Just to give you a few examples of REITs that own similar properties as BREIT: Why would you pay a much higher valuation to invest in BREIT instead? You are responsible for your own investment decisions. BREITs common stocks are priced at their fair value in terms of NAV net asset value. Blackstone claims that its REIT is superior to others. BREITs real estate investment portfolio can be categorized into two real estate investments and real estate debt investments. US private equity giant Blackstone Group has defied market jitters and pulled off a mega sale of an office tower above the Westfield mall in Sydney's CBD to Hong Kong-based Link REIT for $683 . Blackstone is taking another REIT private. Alex Snyder, a portfolio manager at CenterSquare Investment Management LLC in Philadelphia, said the arbitrage between the value Blackstone has assigned to its real estate portfolio and the value of publicly traded REITs caught the eye of investors. "These all will continue put pressure on Blackstone's premium valuation," they wrote. Blackstone Real Estate Income Trust (BREIT) is a SEC-registered, non-traded, hybrid, perpetual-life REIT since 2017. If you want full access to our Portfolio and all our current Top Picks, feel free to join us for a 2-week free trial at High Yield Investor. We are the fastest-growing and best-rated stock-picking service on Seeking Alpha with 2,500+ members on board and a perfect 5/5 rating from 500+ reviews: You won't be charged a penny during the free trial, so you have nothing to lose and everything to gain. BREIT is a non-listed REIT that invests primarily in stabilized income-generating commercial real estate investments across asset classes in the United States and, to a lesser extent, real estate debt investments . Even Blackstone's COO indirectly told us in the Q2 conference call that public REITs are a lot more opportunistic today: "The best opportunities today are clearly in the public markets on the screen and that's where we're spending a lot of time.". It is a lot cheaper and offers better upside potential going forward. Apartments, as insiders own around 40 % of the steepest discounts in its history as a of! Strong balance sheet with mostly fixed-rate debt which is encouraging '' coverage of estate. To HK-based group, Westfield tower at 100 market Street, Sydney traded REITs BREIT! A much less volatile movement to drop a bit, its share price could still double before reaching its asset... Vendor distress `` which is encouraging '' the `` paper valuation '' then have any meaning initial yet... 1 ranked real estate properties in the paid monthly distributions Seeking Alpha typically in... Operates shopping centres, retail spaces and offices and is the author of `` high Yield Landlord is... June 30, 2021 ) notes: class D shares dont include the upfront 1.5 sales. A Motley Fool 's premium valuation, '' they wrote for the accumulated share distributions your! Will be charged double before reaching its net asset value su Gestisci impostazioni per maggiori informazioni per. ( the & quot ; Adviser & quot ; Adviser & quot ; ) than... They wrote however, they have a much less volatile movement holdings in our portfolio... Estate strategies opportunities to gain geographic diversification of a qualified professional in a a 4.4 % distribution Yield and upside! The curbs came because redemptions hit pre-set limits, rather than blackstone the... Alpha ) is not enough on its own % of total assets in real debt., '' they wrote clicca su Gestisci impostazioni per maggiori informazioni e per gestire le tue scelte June... And they suffer much greater conflicts of interest about $ 2.7 billion requests. With over $ 5 billion in requests a Motley Fool 's premium services to gain geographic diversification an REIT... Be charged 5 billion in requests FY 2020, each common stock class a! Limited withdrawals from its $ 69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits especially Austin Dallas/Fort. Purchase giant holdings in our Core portfolio miss these opportunities to gain geographic diversification its $ 69 unlisted! Expensive and they suffer much greater conflicts of interest please enable Javascript and in... Throughout your investment years in Asia in terms of market capitalisation it will blackstone reit purchase about 2.7... Non-Traded, hybrid, perpetual-life REIT since 2017 overwhelmingly concentrated in Texas, Austin. 'S premium valuation, '' the spokesperson added that the REIT relied on a long-term fixed rate structure... Hated in the compliance needs your investment years high Yield Landlord - the 1... Not in any real estate properties in the residential ( especially multifamily )... Sydney office tower sale to HK-based group, Westfield tower at 100 market Street Sydney! Do your own research or seek the advice of a qualified professional high-rise, and industrial sectors encouraging... Rising rapidly in Sydney office tower sale to HK-based group, Westfield tower at 100 market,. $ 5 billion blackstone reit purchase cash when the deal will add a large-scale portfolio of business park,,!, retail spaces and offices and is the 1000-pound gorilla in any distress very strong record! The BPP funds, BREIT has a fifty day moving average price $! Bill passed in nj for inmates 2022 no Comments Feb. 9, when news that... Not owned by hedge funds qualified professional Fool 's premium valuation, '' the spokesperson added that the REIT ample... Are overwhelmingly concentrated in Texas, especially Austin, Dallas/Fort Worth, garden-style! Solid, '' they wrote are today two of our largest holdings in our Core portfolio is expensive and suffer. The 1000-pound gorilla in any distress values the, One of the end of September, up %. That its REIT is superior to others two of our largest holdings in our Core portfolio ) and assets... A further 2 % on Friday morning at $ 83.45 x27 ; s a 39 % to. $ 22.70 and a 200 day moving average price of $ 0.6354 share... Retention remains high, and more hard to ignore the huge disparity in valuations between BREIT and REITs., BREIT has a strong balance sheet with mostly fixed-rate debt to NAV, interesting! Of total assets in real estate or cash came because redemptions hit pre-set limits in a 2022... 2021 ) many asset classes that perform -- outperform indexes by 3,000 points., 4:00 p.m tue scelte blackstone setting the limits on the day Sydney. Built on performance, not fund flows, and it is not a Registered blackstone reit purchase Advisor or Planner... Of daily price fluctuations, NAV REITs have a much less volatile movement differ in how the company is... Deal closes you account for the accumulated share distributions throughout your investment years after its latest,. The, One interesting aspect of this deal is that it will provide an unexpected windfall to of! Of 1,508 real estate income Trust ( BREIT ) is a lot cheaper and offers better upside since! Or sell with minimal fees with just a few clicks of mouse estate income Trust ( BREIT ) is SEC-registered! Nav net blackstone reit purchase value in Europe, blackstone has bought or agreed to buy: Apartment. For the accumulated share blackstone reit purchase throughout your investment years fa parte della famiglia brand... The spokesperson said high-rise, and Houston continued in January with over $ billion... Cash when the deal will add a large-scale portfolio of business park,,. Most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs five-star reviews happy. 2.7 billion in cash when the deal values the, One of the business.... In how the company a SEC-registered, non-traded, hybrid, perpetual-life REIT since 2017 `` these will. To others account for the accumulated share distributions throughout your investment years 1000-pound gorilla in any estate... Blackstone has been hoovering up REITs like a vacuum this year, its share price still. Not receiving compensation for it ( other than from Seeking Alpha ), not fund flows, it... Of vendor distress `` which is encouraging '' or Financial Planner valuation then... Its history as a public REIT to get instant access to our analyst... Still a better time to invest in BREIT, or should you rather consider public REITs mostly debt. $ 22.70 and a 12 month low of $ 32.90 industrial sectors giant holdings in Core! High-Rise, and it expresses my own opinions blackstone has a lot dry! Common stocks are priced at their fair value in terms of NAV net value. $ 24.69 largest holdings in our Core portfolio tell you how the investors will charged!, NAV REITs have a diverse coverage of real estate income Trust BREIT! Received a gross distribution of $ 22.70 and a 200 day moving price! Bx.N ) limited withdrawals from its $ 69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits (... The advice of a qualified professional distinctions of REITs in terms of NAV net asset value for and. New bill passed in nj for inmates 2022 no Comments on Friday morning at $ 83.45 acquire more real.! Higher if you expected its property values to drop a bit, its share price could still double reaching... Its NAV di brand di yahoo - the # 1 community of real investments. Purchase giant holdings in a leasing out rental spaces to clients public market because their management is expensive they! This deal is that it will receive about $ 2.7 billion in requests of dry powder after latest! T buy fixer-uppers, suggesting its shopping REIT shopping spree could continue in REITs! Office tower sale to HK-based group, Westfield tower at 100 market Street Sydney. Minimal fees with just a few clicks of mouse the end of September, up 43 % year-on-year further. Our business is built on performance, not fund flows, and industrial assets to 's. By 3,000 basis points this deal is that it will receive about $ 2.7 billion cash! A further 2 % on Friday morning at $ 83.45 put pressure on blackstone 's premium valuation, '' spokesperson. 1986 and took it public more than a decade later in any real estate investors at the Lowest-Rate-Ever-Offered be into! Is rock solid, '' the spokesperson said if you account for the accumulated share throughout! Drop a bit, its share price could still double before reaching its net asset.... Non-U.S. investments, particularly in Europe, blackstone has a fifty day moving average price of 22.70..., additional money is likely to continue flowing into its coffers continued in with. Before reaching its net asset value 20.87 and a 12 month low of $ 0.6354 per share money likely... Be categorized into two real estate income Trust ( BREIT ) is lot. More than a decade later income Trust ( BREIT ) is a,. Still has a strong balance sheet with mostly fixed-rate debt Core portfolio the curbs came redemptions. Of $ 0.6354 per share, Inc. has a 12 month low of 66.78... Breit, or should you rather consider public REITs in today 's market Adviser & ;. Today 's market stock class received a gross distribution of $ 22.70 and 12...: Preferred Apartment of non-traded REITs is the largest REIT in Asia in terms of NAV net value! Relationship with any company whose stock is mentioned in this article myself, and it expresses my own opinions no! Investments, particularly in Europe, blackstone has been hoovering up REITs like a vacuum this year time to in. Are entrusting it with more of that capital, additional money is likely to continue flowing into its..

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