Blackstone plays it safe with $2.7B Japanese rental property deal

Blackstone Group and its institutional investors see stability in Japan’s low-upside residential market. The New York-based financial firm has agreed to pay more than $2.7 billion for a portfolio of 220 rental properties mostly in Tokyo and Osaka, according to the Wall Street Journal. That’s a little less than 10 percent of the $29.4 billion it’s raised for core-plus (essentially, low risk portfolio with modest returns) as of its most recent filings. While Blackstone’s focus

source https://therealdeal.com/2020/03/09/blackstone-plays-it-safe-with-2-7b-japanese-rental-property-deal/