News
US Private Equity Makes Big Splash in Japan
November 20, 2014
Blackstone Group has entered the Japanese multifamily market with a $1.6B purchase of GE Japan's residential business. The portfolio spans 200 buildings and 10,000 apartments and conforms to Blackstone real estate head Jon Gray's recent announcement that the world's biggest private equity RE investor would expand its focus on fast-developing—or, in the EU zone, still destressed—overseas opportunities. Bloomberg noted that the sale is part of GE's plan to shed real estate intvestments as the company prioritizes its debt business. Blackstone's new Japanese properties are concentrated in Tokyo, Osaka, Nagoya and Fukuoka.
