Blackstone (NYSE:BX) today announced that funds affiliated with
Blackstone Real Estate Partners Asia will make an investment in
connection with an agreement to acquire GE Japan Corporation’s 100%
owned residential real estate business for over ¥190 billion. The
business owns and operates more than 200 residential properties,
consisting of over 10,000 units primarily in Tokyo, Osaka, Nagoya and
Fukuoka.
“We continue to believe strongly in the residential sector’s
fundamentals, especially in Japan’s major cities,” said Alan Miyasaki,
Senior Managing Director at Blackstone. “We are excited by the
opportunity to invest in such a high-quality and well managed business.”
Francois Trausch, Chief Executive Officer – Asia-Pacific at GE Capital
Real Estate said, “This transaction supports our global strategy to
reduce our equity book as we continue to build our global debt
operations. We are pleased that our Japan residential business will
transfer to another premier owner/operator with a strong emphasis on
tenant satisfaction.”
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s
real estate business was founded in 1991 and has more than $80 billion
in investor capital under management. Blackstone’s real estate portfolio
includes hotel, office, retail, industrial and residential properties in
the US, Europe, Asia and Latin America. Major holdings include Hilton
Worldwide, Invitation Homes (single family homes), Logicor (pan-European
logistics), SCP (Chinese shopping malls), and prime office buildings in
the world’s major cities. Blackstone real estate also operates one of
the leading real estate finance platforms, including management of the
publicly traded Blackstone Mortgage Trust.
About GE Capital Real Estate
GE Capital Real Estate is a leading commercial real estate company, with
global assets of $36 billion and debt and equity activities in North
America, Europe and Asia-Pacific. As a unit of General Electric (GE), it
can offer access to the strength, industry knowledge and global reach of
one of the world’s leading companies. GE Capital Real Estate Asia
Pacific has a $5.1 billion assets portfolio and serves clients’ equity
investments including direct acquisitions of single assets or
portfolios, joint venture equity partnership financing, and asset
management. Focus sectors include office, multifamily, retail and
warehouse assets, hotels and development projects. Visit gecapitalrealestate.com
to learn more.
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