Blackstone raised $18.3bn (€16.8bn) for real estate investment in the first half of the year, according to its latest results.

In its second-quarter report, the investment manager said it raised $1.9bn during the second quarter, and $18.3bn year-to-date.

Capital invested in real estate in the second quarter totalled $3bn.

Blackstone said it had reached a record level of investment activity, with $8bn invested or committed at the end of the second quarter across its Real Estate Partners, Property Partners and Real Estate Debt Strategies arms.

BXMT, the firm’s publicly traded commercial mortgage REIT, raised $1bn in two equity offerings, taking its market capitalisation to $2.6bn.

As part of a deal announced in AprilBXMT is buying a $4.6bn portfolio of first-mortgage loans.

BREDS, Blackstone’s real estate debt fund is taking on performing first-mortgage loans in Mexico and Australia for $4.2bn.

Blackstone said it returned $25bn to investors in the past 12 months.

Total real estate assets under management were up 14% year-on-year to $91.6bn. Across all asset classes, Blackstone manages $333bn.