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Blackstone has ended its pandemic forbearance policies for residential tenants, evicting hundreds and setting the stage for potentially thousands more.
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The joint venture paid $1.2B for a 20% equity stake in a portfolio of loans to office, retail and multifamily buildings.
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ElmTree Funds, Fortress Investment Group and Morgan Stanley are in various stages of gearing up to sell stock in new REITs not linked to the larger market.
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As SREIT tightens investor redemption limits, other nontraded REITs managed by investment giants like Blackstone, KKR and Brookfield face issues with liquidity.
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Starwood CEO Barry Sternlicht on Wednesday explained the choice to cap withdrawals for SREIT to 0.33% of NAV as it waits out interest rate cuts.
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A cash crunch has cleared for most private real estate funds, but Barry Sternlicht’s Starwood still has $1B of redemptions to pay back.
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With nearly $200B in dry powder, Blackstone says easing capital costs are beginning to unlock long-stalled real estate transactions.
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BGO deregistered a nontraded industrial REIT with the SEC nearly three years after its launch marked the investment firm's entry into the retail channel.
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