Hints and tips:
...The investment push is coming from Blackstone’s ownership of QTS Realty Trust, a real estate trust focused on data centres, which it acquired for more than $10bn in mid-2021....
...Lender Arbor Realty Trust foreclosed on the properties in April....
...Now you can get almost 5 per cent in triple-A rated corporate bonds. Moreover, the leverage an asset manager would use to juice returns is no longer cheap as chips. But here’s the thing....
...Only launched in 2017, Blackstone Real Estate Income Trust (or BREIT) has grown rapidly....
...S&P had managed to beat numerous giants to win one of the industry’s crown jewels. Then Bloomberg showed up....
...The crown jewel in Steven Schwarzman’s real estate investment empire — the $70bn Blackstone Real Estate Income Trust — has hit a spot of bother lately....
...Blackstone can basically just turn it into a closed property trust at will, and reopen for redemptions when they want. Some of the doom-mongering we’ve seen online therefore looks hugely overdone....
...Most real estate investment trusts are publicly traded, and their performance has deteriorated in many cases, but Breit is private....
...Investors sold out of almost $2.6bn in shares of Breit, more than triple the $700mn in redemptions from the previous quarter. “We haven’t really seen the other side of it yet,” Patterson said....
...I wouldn’t trust anything on the shell company. It’s so easy to set up a company and you can put any details that you want,” he adds. Authorities have long known about such loopholes....
...Among other projects, Shannon is working on a near-total gutting of the former One and Two Penn Plaza, drab, 1970s-era towers that loom over Pennsylvania Station, for Vornado Realty Trust; an update of the...
...“It’s a triple-win situation,” he told the FT last year. Clean energy investments are part of an ambitious plan by Crown Prince Mohammed bin Salman to modernise the conservative country....
...Shares in Empire State Realty Trust, owner of the art deco masterpiece that is New York’s most famous skyscraper, have fallen 35 per cent since the coronavirus arrived in the city in February last year....
...In the second instance, American Tower, the owner of a network of mobile phone sites, said it would buy CoreSite Realty for $10bn....
...At Citigroup and then Trust Company of the West, he was an early buyer of the high-risk “junk bonds” being sold by Michael Milken, the man who largely built that market in the 1980s and whose spectacular...
...“The proposed creation of a property trust would give the new entity additional flexibility to manage its capital structure post-transaction,” she said....
...It also teamed up with Crown Acquisitions, the US real estate group, to buy a 24 per cent stake in a portfolio of properties controlled by Vornado Realty Trust, which they estimated to be worth $5.6bn....
...Triple Crown nightmare imperils $26.1bn US horseracing industry The $26.1bn US horseracing industry is embroiled in a drugs crisis....
...But those crown jewels come with $55bn in debt taken on as part of the AT&T agreement....
...The fund and Crown said they would each acquire a 24 per cent stake in properties controlled by Vornado Realty Trust, which they estimated to be worth $5.6bn....
...The pandemic-postponed Kentucky Derby will run on Saturday in Louisville, where the favourite Tiz the Law, already the winner of the Belmont Stakes, is chasing coveted Triple Crown....
...Prologis bought Liberty Property Trust, a rival industrial warehouse manager, for $12.6bn last year....
...Trust me: here, nothing changes.” The question of whether the new law can produce lasting change remains....
...[or that] the Public Investment Fund in Saudi Arabia, chaired by [Saudi crown prince] Mohammed bin Salman . . . is not politically related?”...
...The firm paid $8bn in 2016 for BioMed Realty, which owns properties in Boston and San Francisco....
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