Blackstone, now the largest private real estate firm in the world, with US$53.5 billion of property assets under management.
“Right now we are offering an Asian real estate fund. There is not another pan-Asian real estate fund in existence,” Blackstone President Tony James told the Goldman Sachs financial services conference in New York, without offering details on the new fund.
Even though it makes up about a quarter of its assets, real estate is Blackstone’s most profitable business, accounting for close to half its profit in the third quarter. In October, the New York-based firm said it had raised US$13.3 billion for its latest global property fund, the largest opportunistic real estate fund ever.
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
The time is ripe to embrace Industry 4.0
Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns
We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.
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