BLACKSTONE TO ACQUIRE GE PROPERTY ASSETS IN JAPAN
Blackstone Group LP, the world’s biggest private-equity property investor agreed to buy assets in Japan from General Electric ’s residential-property business for more than $1.61 billion, the company said in a statement. Blackstone will buy more than 200 properties with more than 10,000 residential units, mainly in Tokyo, Osaka, Nagoya and Fukuoka. Francois Trausch, GE Capital Real Estate Asia-Pacific’s Chief Executive said in a statement that the deal supports the company’s global strategy to reduce its equity book as it continues to build its global debt operations. Earlier this year, Blackstone acquired warehouses and development lands in the U.S from GE Capital Real Estate.