Blackstone's Real Estate Outlook Amidst Weakening Market and Record Dry Powder
TL;DR Summary
Blackstone, the world's largest real estate investor, reported a 7.6% drop in revenue in Q3 due to the weakening commercial real estate market caused by the pandemic and economic slowdown. The company's real estate assets under management also decreased by 2.2%. Blackstone's CEO, Stephen Schwarzman, stated that the company is focusing on investing in logistics and life sciences properties, which have been performing well during the pandemic.
- Blackstone is the latest victim of the weakening commercial real estate market CNN
- Blackstone President Jon Gray on Q1 earnings CNBC Television
- Blackstone's Gray Sees Real Estate Boon From Tight Credit Bloomberg
- Credit, insurance to benefit from Blackstone's record $193bn of dry powder Private Equity International
- Blackstone ❤️ private credit Financial Times
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