Blackstone buys multifamily portfolios in U.S. and Japan
The Blackstone Group has acquired two multifamily portfolios in the United States and Japan.
An affiliate of The Blackstone Group, with its partner Phoenix Realty Group, has acquired a U.S. multifamily portfolio for $570 million. The sellers were two closed-end core private equity funds managed by PRG.
The $15.8 billion Blackstone Real Estate Partners VIII acquired the 16-property, 3,800-unit multifamily. The properties are located in the Denver, Los Angeles, San Diego and South Florida markets.
Blackstone has been actively investing across property types. Recently, Blackstone Real Estate Partners VIII acquired BioMed Realty Trust in an all-cash transaction valued at $8 billion and