It was the height of the 1990s when Stephen Schwarzman struck one of Blackstone’s first real estate deals — guided by little more than what he said was third-grade math. At the time, the U.S. government was selling off foreclosed properties to firms like Blackstone, Goldman Sachs and Morgan Stanley. Blackstone and Goldman had teamed up to bid on a portfolio of garden apartments, but the partners disagreed on price. “I looked at this transaction
source https://therealdeal.com/2020/01/30/stephen-schwarzman-recalls-one-of-blackstones-first-real-estate-deals/
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