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What Blackstone Group Has Bought And Sold In 2016

    Blackstone 2016 collage

    Blackstone Group, the world's largest asset manager, topped $100B in real estate assets in 2016. Though the firm has picked up a lot of commercial property this year, it's also been on a selling spree of late, including the sale of its Strategic Hotels & Resorts portfolio to Chinese insurer Anbang for $6.5B. Take a look at some of the firm's biggest 2016 deals in Bisnow's archives. 

    1 of 11

    LA Office Towers

    Los Angeles Skyline in front of San Gabriel Mountain
    Los Angeles skyline in front of San Gabriel mountains

    Date: February 2016

    Buyer: Douglas Emmett

    Price: $1.34B

    Size: 1.72M SF

    Douglas Emmett — one of the West Coast's largest office landlords — grabbed the four towers totaling 1.7M SF for $1.3B, or roughly $779/SF. The properties had been on the market since September, according to CoStar, and Blackstone picked them up in its buyout of Equity Office Properties Trust in 2007.

    2 of 11

    BioMed's Real Estate Holdings

    What Blackstone Group Has Bought And Sold In 2016

    Date: January 2016

    Seller: BioMed Realty Trust

    Price: $8B

    Size: 18.9M SF

    In a surprising turn of events, Blackstone closed this deal following the firm's disappointing Q4 results in which earnings fell 70%. Blackstone spent $23.75 a share for BioMed, with holdings in key markets like Boston, San Francisco, Seattle and San Diego.

    3 of 11

    Strategic Hotels & Resorts

    Date: March 2016

    Buyer: Anbang Insurance Group

    Price: $6.5B

    Size: 16 properties 

    After pulling out of its $13.6B Starwood Hotels & Resorts merger earlier this year, Anbang plopped down a whopping $6.5B for Blackstone's 16 Strategic Hotels & Resorts properties.

    4 of 11

    RioCan Retail Portfolio

    Date: May 2016

    Seller: RioCan REIT

    Price: $1.9B

    Size: 49 US retail properties

    The REIT sold its US retail portfolio to Blackstone after a brief delay for RioCan to get approval from various third-party lenders. Most of the 49 properties are in the northern US and Texas.

    5 of 11

    11601 Wilshire Blvd

    Date: June 2016

    Buyer: Hudson Pacific Properties

    Price: $311M

    Size: 500k SF

    In a series of LA office building selloffs, Blackstone flipped this West LA tower for roughly $621/SF after purchasing it more than a decade ago for $163.8M.

    6 of 11

    University-Affiliated Portfolio

    Date: July 2016

    Buyer: Ventas Inc

    Price: $1.5B

    Size: 23 properties

    The portfolio, mostly consisting of life science and medical properties, marked Ventas' entry into university-affiliated real estate. Ventas is the second-largest US healthcare REIT in terms of market value, and owns 1,300 properties in the US.

    7 of 11

    Commerce Plaza

    Date: August 2016

    Buyer: Zeller Realty

    Price: $125M

    Size: 515k SF

    Zeller announced plans to acquire this three-building office complex from Blackstone in August, marking the biggest suburban office deal in Chicago this year. At that time, the complex was 95% occupied.

    8 of 11

    Alecta US Portfolio, Laeshore Plaza 

    Date: August 2016

    Seller: Alecta

    Price: $1.8B

    Size: 22 properties

    Blackstone beat out Goldman Sachs for Swedish pension manager Alecta's US portfolio. The 22 properties are mostly retail and office buildings including Lakeshore Plaza, a shopping center in S.F.'s Sunset District.

    9 of 11

    Logistics Portfolio

    Warehouse, industrial, distribution center
    The average height of warehosues and distribution centers has risen nine feet in the past 50 years.

    Date: September 2016

    Seller: LBA Realty

    Price: $1.5B

    Size: 12M SF

    This was Blackstone's largest US distribution acquisition since it left the logistics business after selling IndCor Properties for $8.1B. The majority of the facilities are on the West Coast, as is Irvine-based LBA Realty.

    10 of 11

    Hilton Worldwide Holdings

    Date: October 2016

    Buyer: HNA Group 

    Price: $6.5B

    Size: Full portfolio

    For a 25% stake in Blackstone's Hilton Worldwide, the Chinese conglomerate forked over $26.25 a share, causing the world's second-largest hotel operator's interest in Hilton to fall to roughly 21%.

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