In separate deals, Blackstone has spent $667 million to acquire five real estate assets.
Blackstone bought a portfolio of four apartment properties totaling 862 units in Southern California for $312 million, reported The Real Deal.
The seller was TruAmerica Multifamily. The assets include the 368-unit Vicino Apartments in Lakewood, Calif.; the 160-unit Harborview Apartment in San Pedro, Calif.; and the 176-unit Canyon Ridge Apartments and 158-unit Canyon Crest Apartments in Santa Clarita, Calif.
And in Atlanta, Blackstone acquired the 1,260-room Hyatt Regency hotel for $355 million, reported the Atlanta Business Journal. The seller was Hyatt Hotels Corp.
The building consists of a main Atrium Tower and two extensions, completed in 1971 and 1982, respectively. On top of the Hyatt Regency is a revolving restaurant called Polaris, located beneath the blue dome-shaped structure that gives the hotel its distinctive profile.
