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.
Alternative investment giant, The Blackstone Group is to enter the non-traded real estate investment trust (REIT) market. The firm has applied to the SEC to register the Blackstone Real Estate Income Trust, which will invest primarily in stabilised income-orientated commercial real estate and is looking to raises $5bn from investors.