Jonathan Gray News
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Updated 1 hour, 50 minutes ago
Wall Street is ramping up financing to private-equity firms buying homes to rent, helping them accelerate purchases as competition increases and prices jump.
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Blackstone Group LP, the world’s biggest manager of alternative assets, has $1.5 billion of capital commitments for its first Asian property fund, targeted at $4 billion, according to a letter sent to investors.
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Blackstone Group LP and its Brazilian partner agreed to buy a stake in the country’s largest residential land developer, betting that the appeal of its gated communities will withstand a slowing in home prices.
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The Houston Astros selected Stanford University right-handed pitcher Mark Appel with the top pick in Major League Baseball’s first-year player draft.
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KKR & Co., the private-equity firm that’s raising its debut real estate fund, agreed to buy 430,000 square feet (40,000 square meters) of U.K. retail warehouses, its first European property purchase.
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Hedge fund manager Bruce Rose was among the first investors to coax institutional money into the mom and pop business of single-family home rentals, raising $450 million last year from Oaktree Capital Group LLC.
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Blackstone Group LP is considering an initial public offering of its Brixmor Property Group shopping- center unit by year’s end, taking advantage of a stock-market rally as it starts to sell real estate assets.
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An 800-pound gorilla, the joke goes, can sleep wherever it wants. Blackstone Group LP, manager of the world’s largest real estate fund, has no time to rest.
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Blackstone Group LP plans to sell its London West Hollywood hotel to take advantage of a Los Angeles lodging recovery, said Jonathan Gray, global head of real estate at the private-equity firm.
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Blackstone Group LP bought 1,400 properties in Atlanta, some eligible for federal low-income housing subsidies, in the biggest bulk purchase for the fledgling homes-for-lease industry.
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