Real Estate Weekly
Image default
Debt & Equity

Blackstone fund the largest ever raised

Blackstone announced the final close of its latest global real estate fund, Blackstone Real Estate Partners IX.

The fund has $20.5 billion of total capital commitments — the largest real estate fund ever raised. Blackstone is also currently investing two regional opportunistic funds, the 7.9 billion Euro BREP Europe V and the $7.2 billion BREP Asia II.

KATHLEEN McCARTHY

Kathleen McCarthy, Global Co-Head of Blackstone Real Estate, said, “This fundraise reflects the excellent relationships we have with our limited partners given the strong results the BREP funds have generated for them since 1991.

“We are grateful to our investors for their ongoing support and look forward to putting this capital to work on their behalf.”

Added Ken Caplan, Global Co-Head of Blackstone Real Estate: “Despite the challenging investment environment, we continue to see compelling opportunities around our highest conviction investment themes.

“BREP IX’s scale allows us to commit capital globally in a differentiated set of complex transactions.”

In June, BREP IX committed to its initial investment, the purchase of GLP’s U.S. Logistics Assets for a total of $19 billion, alongside other Blackstone vehicles.

This acquisition is expected to close in the coming weeks.

(Visited 1 times, 1 visits today)

Related posts

Philadelphia’s 1500 Market office complex gets $388M refi

REW

Mondrian Park Ave. Hotel gets $135M in refinancing

REW

Nearly $78M loan will fund NJ apt./office development

REW