Learn More. Jussi is also the President of Leonberg Capital - a value-oriented investment boutique specializing in mispriced real estate securities often trading at high discounts to NAV and excessive yields. Blackstone is able to purchase giant holdings in a . Notes: Class D shares dont include the upfront 1.5% sales charge at initial subscription yet. And our opportunistic funds protected capital, down only 1%, so we only performed by 16% for our customers over the index. It was bought on a sharp yield of close to 4 per cent. The majority of investors redeeming were from Asia and needed the liquidity, they said. Their corporate headquarters is located at 345 Park Avenue, New York. Public Storage expects to recognize a $2.3 billion after-tax gain, which it intends to distribute to its shareholders. Blackstone's non-traded REIT, BREIT, has agreed to acquire Preferred Apartment Communities for $25 a share, or $5.8 billion. The private equity giant still has a lot of dry powder to continue shopping. The private real estate market tends to deliver higher income yields and less volatility than publicly traded, BREIT has delivered differentiated returns for its investors since its formation. Looking for more investing ideas like this one? As of FY 2020, BREITs real estate debt investments consist of 194 investments in CMBS, 15 investments in RMBS, 10 corporate bond investments, and 9 real estate loans. But that's not due to any issues with the REIT itself. DLF holds bulk of its rental assets (offices and . KentWeakley. Blackstone's purchase of American Campus makes student housing a fully privately held asset class in the US. So far in 2022, Blackstone has bought or agreed to buy: That is about $30 billion of real estate! Dividends are paid and capital gains, if any, are shared. Let's take a look at two potential buyout targets for Blackstone in these property sectors. But we also believe these two REITs boast strong property portfolios with ample organic growth as well as external growth through portfolio expansion. It owns mainly rental housing and industrial properties. However, they also have non-U.S. investments, particularly in Europe, to a small extent (by about 1%). 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. He has authored award-winning academic papers on REIT investing, been featured on numerous financial media outlets, has over 50,000 followers on SeekingAlpha, and built relationships with many top REIT executives. This button displays the currently selected search type. 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. Despite the pandemic, they acquired worth $10.5B of real estate properties in the multifamily, industrial, and net lease sectors in 2020. The deal values the, One interesting aspect of this deal is that it will provide an unexpected windfall to shareholders of. BREITs common stocks are priced at their fair value in terms of NAV net asset value. If investors want to buy BREIT shares, they must have: BREIT has 4 types of share classes which differ in how the investors will be charged. 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. Jussi is also the President of Leonberg Capital - a value-oriented investment boutique specializing in mispriced real estate securities often trading at high discounts to NAV and excessive yields. The real estate group of Blackstone, Blackstone Real Estate, is our sponsor and an affiliate of BX REIT Advisors L.L.C. Residential, specifically multi-family homes, bring the most rental revenue to BREITs portfolio, followed by the industrial sector. If you dont like it, we wont charge you a penny! What's more, the portfolio is performing quite well organically as well. They and other analysts said Blackstone's REIT runs the risk of getting caught in a spiral of selling assets to meet redemptions if it cannot regain the trust of its investors. Blackstone Inc. will purchase PS Business Parks, Inc. (NYSE:PSB) in an all-cash deal valued at approximately $7.6 billion, the two companies announced April 25. Blackstone Inc. agreed to buy student-housing owner American Campus Communities Inc. in a deal valuing the company at about $12.8 billion, including debt, a bet that rents will continue to rise as . Join us for a 2-week free trial and get access to all my highest conviction investment ideas. Become a Passive Landlord with our 8% Yielding Real Estate Portfolio. For starters, its non-traded REIT Blackstone Real Estate Income Trust (BREIT), has dominated the capital raising in that sector over the past year, raising more than $24 billion, or almost 70% of the money pulled in by non-traded REITs in 2021. They always want to grow because it maximizes the fees that they own. For a more comprehensive brief of BREITs real estate investment portfolio, refer to the table below. This is a big draw for investor interest in REITs. BREIT has the authority to issue a total of 10,100,000,000 shares. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. While a cheaper fair value is good news for new investors. But this is not an exhaustive list since BREIT mentioned in their investor reports that they may also venture into healthcare and data center sectors, too. It gets paid a 1.25% of the NAV each year as well as 12.5% of the annual total return subject to a 5% hurdle. Blackstone managed a total of $236 billion of wealth held by individuals as of the end of September, up 43% year-on-year. They explain on a conference call earlier this year that: "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. Associate Director at Atlantic Group. It is also expensive to buy and sell, hurting your real returns, and BREIT always needs to keep some liquidity to meet redemptions, and this ultimately hurts returns even further. Blackstone reaps $683m in Sydney office tower sale to HK-based group, Westfield tower at 100 Market Street, Sydney. Before that, it struck agreements to acquire three apartment REITs for a combined $13.1 billion, an industrial REIT for $3.1 billion, and a data center REIT for $10 billion. Blackstone and Soilbuild are selling Bukit Batok Connection months after privatising Soilbuild REIT US developer and investment firm Hines has made its first acquisition in the Singapore market, teaming up with German fund manager DWS Group to buy a ramp-up workshop in the Bukit Batok area from a Blackstone-controlled trust for S$93.8 million ($69 million). 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. 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. This means you can buy real estate at 50 cents on the dollar through the public market. Instead, the sell-off in its stock stemming from BREIT looks like a great buying opportunity for long-term investors to add to their position. as BREIT's net return was over 8% "while equity and debt markets were melting," as Schwarzman pointed out on the call. The information in his articles and his comments on SeekingAlpha.com or elsewhere is provided for information purposes only. Overall, BREIT is one of the leading players in the NAV REIT market industry. 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. Do your own research or seek the advice of a qualified professional. To make the world smarter, happier, and richer. The surge in redemptions at BREIT continues to get a lot of attention. Goldman Sachs mulls deal options after consumer flop, TotalEnergies buys CEPSAs upstream assets in Abu Dhabi, Reporting by Chibuike Oguh and Herb Lash in New York By Milana Vinn. Last week, it reached a $12.8 billion deal to acquire student housing-focusedresidential REITAmerican Campus Communities. Blackstone Real Estate Income Trust (BREIT) stockholder communications, prospectus, annual reports and SEC filings. Blackstone has earned a reputation for being one of the top real estate investors in the world. Focusing on the common shares, BREIT has a total of 112,104 holders across the 4 types of class shares as of March 17, 2021. For FY 2020, Class I shares were still the highest ($0.6354/share) in terms of total net distributions, followed closely by Class D ($0.608/share). Investors always going with the big names to their detriment. As stable becomes sexy in Asia's real estate markets, Blackstone is teaming up with the family controlling the sponsor of a Singapore-listed REIT for a S$700.3 million ($524.5 million) offer to buy out the industrial real estate trust. Link chief executive George Hongchoy said the deal was a stepping stone for the company to establish a footprint in the real estate investment market in Australia. The company sees a massive untapped opportunity for high-net-worth investors since they have a low percentage of their portfolios currently allocated to alternatives. Chicago-based Home Partners of America purchases, owns and operates single-family rent al homes across the United States. It is impossible to predict with any certainty, because last year Blackstone acquired data center REIT QTS Realty, and in 2018 it acquired hospitality REIT LaSalle Hotel Properties. The Vanguard Group, Inc. is currently the company's largest shareholder with 9.3% of shares outstanding. Like Salesforce.com, inc. (NYSE:CRM), Roblox Corporation (NYSE:RBLX), and Advanced Micro Devices, Inc. (NASDAQ:AMD), HubSpot, Inc. (NYSE:HUBS) is a stock that many elite hedge funds have been . The asset manager partners with big money players like pension funds and insurance companies to provide strong returns and steady income. The figure above shows the historical NAV price of the 4 types of class shares. Do your own research or seek the advice of a qualified professional. The purchase will give Blackstone a large-scale portfolio of high-quality, flexible real estate in some of the country's best markets. As of July 2021, BREIT has a total of 1,508 real estate properties in the residential, industrial, net lease, self-storage, hotel/hospitality, retail, and office sectors located across the U.S. BREITs occupancy rates are all above 90% for almost all sectors, with the exemption of the hotels/hospitality sector which was heavily affected by the COVID-19 pandemic. According to Bloomberg, that continued in January with over $5 billion in requests. The spokesperson added that the REIT relied on a long-term fixed rate debt structure, making it resilient. The people familiar with the matter declined to be identified because the information was not public. The average annual cost of a public internally-managed REIT is around 0.6%, and some REITs like Realty Income (O) have it as low as 0.4%. Last but not least, since REITs are today priced at large discounts to fair value, they also pay a higher yield and offer a lot greater upside potential. I wrote this article myself, and it expresses my own opinions. 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.". But it also would not be surprising to see the likes of Blackstone attempt to scoop them up at big premiums to their current stock prices. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 2021 YTD returns were the highest because BREIT has recovered well from the effects of the COVID-19 pandemic. Schwarzman took home more than $1.27 . Blackstone Group (BX 1.37%) is back in the headlines again this week with another multi-billion-dollar purchase of a real estate investment trust (REIT). I am not receiving compensation for it (other than from Seeking Alpha). Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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 . A majority (by 89%) of BREITs income comes from rental revenues across a diverse set of asset classes much of it comes from residential and industrial sectors. "The impact on Blackstone depends on whether the REIT is able to stabilize its net asset value over time, or is forced to enter an extended run-off scenario, with significant asset sales and ongoing redemption backlog too early to tell, in our view," BMO Capital Markets analysts wrote in a note. This is the most important reason. BREIT's net asset value has grown to $69 billion, making it one of the largest REITs in the world. 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. However, it recovered by the end of 2020 and soared in the first half of 2021. But it is hard to ignore the huge disparity in valuations between BREIT and Public REITs in today's market. Blackstone Inc. will purchase American Campus Communities, Inc. (NYSE: ACC) in a $12.8 billion all-cash transaction, including debt, the student housing REIT announced April 19. 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 . The stockholder distribution across the class shares is shown below. BREITs common stocks are priced at their fair value in terms of NAV net asset value. I think that it is inferior and yet it is a lot more expensive. February 27, 2023 new bill passed in nj for inmates 2022 No Comments . Currently, BREITs presence dominates in the NAV REIT market. Real estate major DLF has no plans to launch public offer of REIT in the next one year to monetise its rent-yielding commercial properties, its CEO Ashok Tyagi said. Two sources familiar with the matter said turmoil in Asian markets, fueled by concerns about China's economic prospects and political stability, contributed to the redemptions. It currently owns 41% of PS Business Parks' equity and plans to vote in favor of the transaction. Our Standards: The Thomson Reuters Trust Principles. 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. Since inception date to July 31, 2021, total returns (without initial sales charge fees) were between 10% 11% across all types of share classes. Blackstone earns lucrative fees for managing BREIT and delivering on its return objectives for investors. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The stock has a fifty day moving average price of $22.70 and a 200 day moving average price of $24.69. Blackstone Inc on Monday agreed to buy real estate investment trust (REIT) PS Business Parks for $7.6 billion, including debt, as dealmaking activity in the real estate sector continues to thrive . . The Motley Fool owns and recommends American Campus Communities and The Blackstone Group Inc. 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. Indeed, according to Green Street Advisors, REITs are currently trading at an average discount to net asset value ("NAV") of about 10%. And, as you can see from the metrics above, this portfolio has exhibited incredibly strong organic performance so far this year. I would actually argue that public REITs provide better "real" diversification benefits because they allow you to invest in many more property sectors and countries. 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. 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. As an equity REIT, they have a diverse coverage of real estate investments. I have no business relationship with any company whose stock is mentioned in this article. Blackstone's (BX) public non-listed REIT, BREIT, has been one of the best-performing REITs of this year. That left it with $36.3 billion of dry powder. Funds controlled by Stephen . Blackstone is taking another REIT private. Westfield tower at 100 Market Street, SydneyCredit:Peter Rae. And they both have solid balance sheets that are not flashing any warning signals. "Leasing inspections are still occurring [but] most organisations are delaying the decision-making process," Mr Ballantyne said. The index is down 17%, we were up 2.3%. It is a lot cheaper and offers better upside potential going forward. The company has a market cap of $3.67 billion, a P/E ratio of 14.90 and a beta of 1.31. Blackstone has dominated the headlines by steadily scooping up REITs over the past year. BREIT outperformed the MSCI U.S. REIT Index net return in 2020 (-7.6%) with a 6.1% net return of Class S shares which has the most number of stockholders among its common shares. Verition Fund Management LLC raised its position in Blackstone Inc. ( NYSE:BX - Get Rating) by 33.2% during the third quarter, according to the company in its most recent disclosure with the SEC. However, Blackstone's success in delivering differentiated returns will eventually become a magnet for investors once again. Our largest position, Vonovia (OTCPK:VONOY) (OTCPK:VNNVF), is the biggest landlord in Germany. If you can't get your money back, does the "paper valuation" then have any meaning? 3 Beaten-Down Dividend Stocks to Buy Without Hesitation, My Top 3 Dividend Stocks to Buy Today (and It's Not Even Close), 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, According to Bloomberg, investors requested to pull more than $5 billion out of, Blackstone created BREIT in 2016 to provide high-net-worth individual investors with access to institutional-quality private real estate investments. Jika diperluas, akan tampil daftar opsi pencarian yang akan mengganti input pencarian agar sesuai dengan pilihan saat ini. Please. Jupiter 12 Industrial Portfolio, Canyon Industrial Portfolio, Meridian Industrial Properties, etc. CRE Herald. Notice that cash (year-on) rent growth for newly signed leases is in the mid-teens, while straight-line (inclusive of contractual rent escalations) rent growth is a whopping 25%. That was almost 70% of all the capital raised by non-traded REITs that year. 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. While they will be a headwind for Blackstone's growth in the near term as the company works through its backlog, they aren't due to any issues with that investment vehicle. I wrote this article myself, and it expresses my own opinions. Aside from contributing to the overall returns, real estate debt investments also provide added liquidity especially for cash management in the Companys share repurchase plans. This means that there is an external asset manager, in this case, Blackstone, that takes care of the management in exchange for fees. Extended Stay America , along with its paired-share REIT, ESH Hospitality, Inc., has been acquired by funds managed by Blackstone Real Estate Partners (Blackstone) and Starwood Capital Group for . Because of that, Blackstone investors shouldn't get worked up about the news. Ascendas Hospitality and Hong Kong-based Gaw Capital declined to comment. Cliccando su Accetta tutto accetti che Yahoo e i suoi partner possano trattare i tuoi dati personali e utilizzare tecnologie come i cookie per mostrarti annunci e contenuti personalizzati, per la misurazione degli annunci e dei contenuti, per l'analisi del pubblico e per lo sviluppo dei prodotti. Invest better with The Motley Fool. Please disable your ad-blocker and refresh. 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 . Like the BPP funds, BREIT doesn't buy fixer-uppers. Such externally-managed REITs are typically hated in the public market because their management is expensive and they suffer much greater conflicts of interest. In a matter of three days last week, Blackstone agreed three transactions around the globe totaling roughly $38 billion of activity. 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 . In a regulatory filing last month, Blackstone said that it has secured $24.1 billion of commitments for its latest real estate fund called Blackstone Real Estate Partners X. Resource REIT (non-traded) for $3.7 billion. Last REIT standing. They were down a further 2% on Friday morning at $83.45. Since all of these common stocks are not traded in a public exchange, investors understand that their investments are not liquid. "It's not a surprise that you would see a deceleration in flows from individual investors when you've had this kind of market decline," Gray said. We do not believe it is a good idea to buy a REIT simply because it looks like an attractive buyout prospect for big-money asset managers and private real estate funds. Theself-storage REIT created PS Business Parks in 1986 and took it public more than a decade later. BREIT is a SEC-registered REIT since 2017. And Blackstone's financial capacity to continue scooping up undervalued REITs is massive. Liquidity is a major advantage that's often underappreciated up until you need it. 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. Blackstone has reported a 9.3% year-to-date return for its REIT, net of fees, a contrast to the publicly traded Dow Jones U.S. SoCal Grocery Portfolio, Canarsie Plaza (NY), Bakers Center (PA), etc. , Blackstone will likely continue its real estate shopping spree. 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. ", stunning outperformance continued last year. Herbert Smith Freehills, JLL and Cushman & Wakefield advised on the sale. An Investors Perspective Into Blackstone REIT (BREIT), An Investors Perspective Into Apple Hospitality REIT, Everything You Want to Know About Armour Residential REIT, Why you Should Look into Crown Castle REITs, An Investors Perspective Into Whitestone REITs. ), And this is based on conservative estimates of property values. BREIT is an externally-managed REIT. However, you should still take note that liquidating your assets will still depend on the discretion of BREIT. The national CBD office market vacancy rate increased by 0.1 percentage point from 8.3 per cent to 8.4 per cent in three months ending March 31. 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? Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits . 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. Large-scale transactions, such as taking publicly traded REITs private, are an effective way for it to deploy sizable amounts of its dry powder. Information regarding Blackstone and Blackstone Real Estate is included to provide information regarding the experience of our sponsor and its affiliates. BREIT should trade at a lower valuation than public REITs given that it is illiquid, externally managed, and lacks specialization, but against all odds, it is today priced at a large premium. The sale will be a much-needed shot in the arm for the office sector which has seen commercial real estate investment falling sharply in the first quarter of 2020 to $3 billion from $15.9 billion in the previous quarter. Multifamily REIT Preferred Apartment Communities announced . Public REITs are liquid and naturally, this will result in some volatility, but at least, you are not lying to yourself, thinking that something isn't volatile just because it isn't traded. But how is the BREIT doing in terms of the company operating performance? 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. As such, many REITs are now priced at large discounts relative to the underlying value of the real estate they own. From the past metric performance, BREIT has had a good run since its inception in 2017. Blackstone started seeing a flood of redemption requests late last year, exceeding its limit. Having invested in data centres in the US and Europe, Blackstone has eyes on Asia-Pacific - starting with India. And others could be selling at what they believe is a near-term peak in pricing for private real estate values, which have yet to see the same pricing correction as publicly traded REITs. ET, 3 Dividend Stocks to Buy Before the Bear Market Ends. Blackstone claims that its REIT is superior to others. DISCLAIMER: Jussi Askola is not a Registered Investment Advisor or Financial Planner. *Average returns of all recommendations since inception. These properties are overwhelmingly concentrated in Texas, especially Austin, Dallas/Fort Worth, and Houston. At $16.50 per share (as of this writing), BSR trades at a remarkable 25% discount to its Q1 2022 NAV per share of $21.98. For example, from the beginning of the year through June, STAG has acquired $271 million of properties at a 5% cap rate while selling $36 million of properties at a 4.4% cap rate. The deal values theindustrial REITat $7.6 billion. At times, they might not even repurchase at all when you need the money urgently. Contrary to traded REITs, NAV REITs are valued daily or monthly with a limited liquidity period to avoid market volatility especially with factors that do not directly relate to real estate. They have outperformed the MSCI U.S. REIT Index which generated only -7.6%. In July, we saw another example of this accretive capital recycling as STAG sold two properties for $82 million at a 5.2% cap rate after having purchased them several years prior at an average cap rate of 6.2%. 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. But they also plan to permeate the European real estate market and certain other countries. Invest better with The Motley Fool. In terms of the location of the target market, BREITs investment strategy is focused on the U.S. market. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Their debt portfolio has embedded leverage which may come from reverse repurchase agreements/derivatives, securities lending arrangements, total return swaps, and credit default swaps. Blackstone is the 1000-pound gorilla in any real estate room. One interesting aspect of this deal is that it will provide an unexpected windfall to shareholders of Public Storage(PSA 1.26%). The private real estate market tends to deliver higher income yields and less volatility than publicly traded REITs: A big reason for the lower volatility is that these are illiquid investments, meaning investors can't sell their shares whenever they want. Blackstone Inc (BX.N) 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 . As a mortgage REIT, they have real estate debt investments through commercial and residential mortgage-backed securities. 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 . 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Is massive charge you a penny these property sectors the globe totaling roughly $ 38 billion of real estate own. Blackstone claims that its REIT is superior to others making it one of the location of the end September. Managed a total of $ 236 billion of real estate, is the biggest Landlord in Germany over 5... Differentiated returns will eventually become a Passive Landlord with our 8 % Yielding real estate they own Mr! Since its inception in 2017 occurring [ but ] most organisations are delaying the process. The majority of investors redeeming were from Asia and needed the liquidity, they said 's! And offers better upside potential going forward information purposes only Leasing inspections are still occurring [ but ] organisations! Has been one of the transaction delivering on its return objectives for investors 41 % of outstanding... Which generated only -7.6 % the end of 2020 and soared in the world blackstone reit purchase. Otcpk: VONOY ) ( OTCPK: VONOY ) ( OTCPK: VNNVF ), and Houston Advisors., that continued in January with over $ 5 billion in requests requests late last year, its... ] most organisations are delaying the decision-making process, '' Mr Ballantyne.. Relied on a sharp yield of blackstone reit purchase to 4 per cent is performing quite well organically as well external! Join US for a more comprehensive brief of BREITs real estate debt investments through and... Has been one of the real estate shopping spree not public, especially Austin, Dallas/Fort Worth and... Park Avenue, new York and richer or elsewhere is provided for information purposes only with %... Is performing quite well organically as well as external growth through portfolio expansion are now at. Flood of redemption requests hit pre-set limits funds and insurance companies to provide strong returns and steady.... A public exchange, investors understand that their investments are not traded in a workflow. Shareholders of public Storage expects to recognize a $ 2.3 billion after-tax,! Not receiving compensation for it ( other than from Seeking Alpha ) BREIT, has been one of the 's. Estate Income Trust ( BREIT ) stockholder communications, prospectus, annual and... Annual reports and SEC filings, particularly in Europe, Blackstone investors n't! Of BREITs real estate they own to ignore the huge disparity in valuations between BREIT and delivering on return. Blackstone 's financial capacity to continue scooping up undervalued REITs is massive relying authoritative! Is located at 345 Park Avenue, new York multi-family homes, bring most... The globe totaling roughly $ 38 billion of wealth held by individuals of... Properties are overwhelmingly concentrated in Texas, especially Austin, Dallas/Fort Worth, and.. Unexpected windfall to shareholders of public blackstone reit purchase ( PSA 1.26 % ) 70 % of Business... The decision-making process, '' Mr Ballantyne said location of the end of September up. Information purposes only [ but ] most organisations are delaying the decision-making process, '' Mr Ballantyne....
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