Alternative investment giant, The Blackstone Group is to enter the non-traded real estate investment trust (REIT) market. Ameriprise Financial Services Inc. Such REITs typically carry loads of 12%, including a 7% to brokers at the time of sale. In a press release issued today, the firm said it will be launching an REIT in New York City and Los Angeles with plans for more than 20 properties across those two cities.
Alternative investment giant, The Blackstone Group is to enter the non-traded real estate investment trust (REIT) market. In a press release issued today, the firm said it will be launching an REIT in New York City and Los Angeles with plans for more than 20 properties across those two cities.