Thanx for the interesting write-up on Blackstone! Hard to believe Gary knows more about CRE than Sam Zell and the fact that they sold half of the portfolio just two days after the transaction looks is hard to fathom, could it be that they dumped this into one of their other funds?
Thanx for the interesting write-up on Blackstone! Hard to believe Gary knows more about CRE than Sam Zell and the fact that they sold half of the portfolio just two days after the transaction looks is hard to fathom, could it be that they dumped this into one of their other funds?
Thanx for the interesting write-up on Blackstone! Hard to believe Gary knows more about CRE than Sam Zell and the fact that they sold half of the portfolio just two days after the transaction looks is hard to fathom, could it be that they dumped this into one of their other funds?
No they didn't dump it into other funds - Harry Macklowe was the biggest buyer. Think of Blackstone's role here partly as a market maker.