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Blackstone’s real estate holdings broke $100B in Q1, a bright spot in an otherwise rough quarter for the world’s largest landlord.
The firm’s real estate assets rose 9% year-over-year, hitting $101.1B—the firm’s total assets under management were $343.7B, up 11% compared with the same quarter last year.
The company signed two huge real estate deals during the quarter, selling Strategic Hotels & Resorts to Anbang Insurance for $6.5B and closing the $8B buyout and privatization of BioMed Realty in January, PERE News reports.
Blackstone’s profits, however, dropped over 75% on the quarter, after seeing a 70% drop in Q4 ’15, and the company’s market value tumbled through Q1 as well. [PERE]
