BLACKSTONE TO AC­QUIRE GE PROP­ERTY AS­SETS IN JA­PAN

Ekaruna - - News Round Up -

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.

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