In April and August 2011 BREP acquired Valad, an Australian company, in a public-to private transaction. Valad’s holdings primarily consist of owned real estate in Australia and New Zealand, and a real estate fund management business that manages Australian and European assets.
In 2011 BREP acquired the Mint hotel portfolio, consisting of eight recently constructed hotels located in the UK and Amsterdam, comprising 2,783 keys. The three largest hotels are located in London (two hotels) and Amsterdam. Since acquisition we have branded the hotels as DoubleTrees and Hilton Garden Inns.
Blackstone acquired the U.S. holdings of Centro Property Group in June 2011, and subsequently renamed the Company as Brixmor. The Brixmor portfolio consists of 585 neighborhood shopping centers (90.6 million square feet), located in 39 states. Blackstone plans to invest significant redevelopment and tenant improvement contributions to attract high quality credit tenants to the centers, and improve the overall occupancy of the portfolio.
In late 2010 Blackstone acquired the Columbia Sussex hotel portfolio. The portfolio consists of 14 full-service urban hotels (5,858 rooms) located across the United States.
During the second half of 2010 Blackstone acquired a 45 million square foot industrial portfolio through three transactions. The portfolio is comprised of 274 warehouse and bulk distribution assets located across 31 states, with concentrations in major East Coast and West Coast distribution markets.
Blackstone acquired the Sunwest Management portfolio in August 2010. The transaction was completed through a joint venture with Emeritus Corporation, a national owner and operator of senior living facilities. Sunwest’s portfolio consists of 144 senior living facilities (11,612 units) located across 31 states.
In November 2009 Blackstone acquired a 50% joint venture interest in the Broadgate Estate, a portfolio of 16 Class A office buildings (4.4 million square feet) located in London. In 2010 the joint venture completed negotiations with an international financial institution to lease 700,000 square feet in a new headquarters building that would be developed by the joint venture. The new building is expected to be completed in late 2014.
BREP acquired a minority stake in Synergy in 2008. Synergy is a leading project and construction management company in India with a blue chip client base. It has delivered over 35 million square feet of real estate, including some of the largest office campuses, hotels, shopping centers and hospitals in India. Synergy specializes in architectural design and fitouts, complete project management, and turnkey contracts.
Blackstone acquired Hilton in a public-to-private transaction in October 2007. Hilton is a leading global lodging company with nearly 3,500 hotels totaling over 575,000 rooms in 79 countries. Its family of brands includes ten industry-leading brands: Hilton, Waldorf Astoria, Doubletree, Embassy Suites, Hilton Garden Inn, Hampton Inn, Conrad, Homewood Suites, Home2, and Hilton Grand Vacations.
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Blackstone acquired Equity Office Properties Trust in a public-to-private transaction in February 2007. The company currently owns 103 office properties totaling 32 million square feet concentrated in Boston, New York, West Los Angeles and Northern California.
The Nido Student Living business comprises the 1,045-bed Nido King’s Cross, the 1,190-bed Nido Spitalfields, and a development site in Barcelona. Since bringing the King's Cross development to market in 2007, BREP has established Nido as a leader in the U.K. student housing market, with high occupancy and strong year-over-year rent growth.
Blackstone acquired CarrAmerica Realty Corporation in a public-to-private transaction in August 2006. The company currently owns 44 office properties totaling 8 million square feet concentrated in Silicon Valley and West Los Angeles.
Blackstone acquired La Quinta in a public-to-private transaction in 2006. Since acquisition, Blackstone has focused on growing the brand through additional franchise locations as well as acquisition of assets and conversion to the La Quinta brand. The brand currently includes approximately 816 hotels totaling nearly 83,000 rooms, which compares to approximately 433 hotels with over 49,000 rooms at the time of acquisition.
Vitalia is France’s second largest healthcare provider, with over 5,300 beds across 45 clinics. BREP built Vitalia through a series of individual clinic acquisitions from 2006 to 2008 and has significantly grown same-store revenues while also improving operating margins for the platform.
Center Parcs is a leader in the UK short-break holiday market, with four parks across the UK comprising over 3,300 villas, a mix of bars, restaurants, and retail outlets and a range of indoor and outdoor leisure facilities located in over 1,600 acres of forest environment. Since acquiring Center Parcs in 2006, BREP has invested in significant refurbishments and dramatically improved operating margins. BREP recently received approval to develop a fifth site in the UK, which is scheduled to be completed in 2014.
In 2004 BREP acquired the residential real estate activities of the WCM Group, comprising a portfolio of over 31,000 apartments in Germany.
In 2005, Blackstone acquired the Rihga Royal hotel, a 506-room hotel in Midtown Manhattan. Blackstone has since completed an extensive renovation of the property which included all public areas and guestrooms and expanded the hotel to 563-rooms. The property has been re-branded The London NYC.
Blackstone acquired Boca Resorts in a public-to-private transaction in 2004. The portfolio includes five resorts in Florida. Since acquisition, Blackstone has invested in significant renovations at several of the assets and has affiliated the Boca Raton Resort & Club and the Naples Grande Beach Resort with Hilton's Waldorf Astoria Collection, and flagged the Bahia Mar as a DoubleTree.