Hints and tips:
...Property investors widely consider payout ratios exceeding cash flows to be a problem in the long term....
...The bid for the site from Blackstone underscores the intense interest among property investors and tech companies to invest in data centres....
...US-based materials group Footprint, are made from compressed wet paper fibres with a coating made from a non-plastic material, the details of which it would not disclose in order to protect the intellectual property...
...Last year, fears over commercial property valuations and a rush to cash caused a surge in redemption requests from Breit....
...It is in talks to buy a £230mn property on London’s New Bond Street....
...It also sold billions in property assets, such as hotels, self-storage operators and an interest in the Bellagio, a Las Vegas casino....
...Breit’s value fell as Blackstone marked down some property investments....
Founder Kenneth Tropin seeks to attract ‘talented people’ in the city as firm marks 30th year
...UK tax on $13.5bn BGI deal (FT) More US regulators join Morgan Stanley wealth management probe (FT) Drugmakers race to find alternative suppliers as US cracks down on Chinese biotech (FT) Vietnamese property...
...Aareal, which is owned by Advent International and Centerbridge Partners, and its listed German peer Deutsche Pfandbriefbank have been particularly hard-hit by their exposure to US commercial property....
...Among current predictions, Blackstone’s president Jon Gray said that the commercial property industry sector has or will soon reach its bottom....
...Blackstone cut back its total spending on new property investments from about $47bn in 2022 to about $9bn in the first three quarters of 2023....
...BPY’s core property portfolio contains almost 200mn gross square feet of office and retail space, in about 200 locations....
...Property slump Hong Kong is suffering from a bout of tanking property prices and rents. Experts warn that a recovery could be elusive, the FT reports....
...The inflows came even after Blackstone was forced to limit withdrawals from a similar $67bn property fund just over a year ago....
Private equity firm rebuts short seller’s warning about ‘a lot of rot in its book’
...But he said he did not expect property markets to snap back after years of turmoil, particularly among older office buildings hit by remote working....
...BREIT, Blackstone’s hyped retail property fund, had to restrict investors from cashing out shares for several quarters, per the limits of its investment agreement....
...KKR is building its investment operations in infrastructure and property and is preparing to launch new flagship corporate buyout funds in the US and Asia....
...Morfit described Disney as “the world’s leading entertainment company”, adding it had “the best intellectual property, sports brand and parks and experiences assets in the industry”....
Deal raises more capital for US buyout group’s expansion at a time when borrowing costs have soared
...Blackstone’s $68bn flagship property fund has gone from being one of the world’s biggest buyers of property to a large seller, as it raises liquidity to meet redemptions and invest billions in data centres...
...Blackstone shelved the fund launch last year after the property fund, called Breit, was forced to limit redemptions....
...The activist hedge fund run by Jeff Smith announced the position at a conference on Tuesday, arguing that News Corp’s stock market valuation “does not make sense” and calling for a spin-off of its online property...
...last year in an episode that caught co-founder Stephen Schwarzman and his heir apparent Jonathan Gray off guard after investors started to remove money from the New York investment group’s flagship $70bn property...
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