US private equity group Blackstone Real Estate is on an investment roll, with plans to invest around EUR 2.6 bn in European real estate this year. The investment pace for Blackstone has been robust, with the firm deploying over £12 bn (EUR 14.4 bn) globally in the last two years, a Blackstone spokesperson told PropertyEU.
US private equity group Blackstone Real Estate is on an investment roll, with plans to invest around EUR 2.6 bn in European real estate this year. The investment pace for Blackstone has been robust, with the firm deploying over £12 bn (EUR 14.4 bn) globally in the last two years, a Blackstone spokesperson told PropertyEU.
Such investment is likely to make it one of the most active investors in Europe this year, following its ranking as the second-largest investor in Europe last year, according to PropertyEU’s annual ranking based on acquisition volumes.
Blackstone continues to see good opportunities out of the recapitalisation of bubble-era transactions, including distressed portfolios. It is also taking the development route: earlier this month, it broke ground on 5 Broadgate, in the City of London, which will be the new London headquarters for UBS when it is completed in 2014. The 65,000 m2 project will cost around £400 mln to develop. In addition to the UK, the firm is scouting for opportunities in Germany and northern Europe.
The full article appears in the April edition of PropertyEU Magazine. Click on the link below to subscribe
