Real Estate
We are a global leader in real estate investing. We seek to utilize our global expertise and presence to generate attractive returns for our investors in any environment, and to make a positive impact on the communities in which we invest.
$230B
Investor Capital Under Management
$411B
Value of Global Real Estate Portfolio*
WHAT WE DO
We invest thematically in high-quality assets, focusing where we see outsized growth potential driven by global economic and demographic trends.
Conviction
Our vast portfolio provides us with proprietary information across every major real estate asset class in virtually every major market around the world, allowing us to identify themes and invest capital with conviction.
Connectivity
Our people are our advantage. Our team of nearly 600 real estate professionals across 9 offices operates as one globally integrated business, allowing us to identify the opportunities and limits of each potential transaction through one investment review process.
Scale
Scale is one of our greatest strengths. The breadth of our existing portfolio gives us differentiated perspectives across sectors and geographies, while our significant discretionary capital base enables us to execute large and complex transactions.
Our Strategies
Since we started investing in real estate in 1991, the growth of our business across both products and geographies has expanded our ability to provide practical and diverse solutions to our limited partners. We have invested successfully through all market cycles and across the entire risk spectrum.
Opportunistic
Our opportunistic business seeks to acquire undermanaged, well-located assets across the world. In connection with these acquisitions, we build businesses that are set up to manage the underlying properties and ultimately maximize their value by instituting best-in-class management. Post-acquisition, we also invest in the properties to improve them before selling the assets and returning capital to our limited partners.
Core+
Our Core+ strategy features stabilized real estate with a long-term investment horizon and moderate leverage, where we can unlock additional value through focused asset management. Our BPP funds focus on logistics, residential, office and life science office, and retail assets in global gateway cities. Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT, focuses on income-generating assets primarily in the top 50 U.S. markets.
Debt
Our real estate debt business provides creative and comprehensive financing solutions across the capital structure and risk spectrum. We originate loans and invest in debt securities underpinned by high-quality real estate. We manage Blackstone Mortgage Trust (NYSE: BXMT), a leading real estate finance company that originates senior loans collateralized by commercial real estate.
“One of the most exciting things about our business is the scope of what we’re able to do given our people, scale, experience and differentiated strategies.”
KENNETH CAPLANGLOBAL CO-HEAD OF REAL ESTATE
“We are high-conviction, thematic investors. We outperform by concentrating our capital in our best ideas.”
KATHLEEN MCCARTHYGLOBAL CO-HEAD OF REAL ESTATE
Our Portfolio
We are the largest owner of real estate globally, owning and operating assets across every major geography and sector, including logistics, housing, life science office, content creation, and hospitality.
CORE+
StuyTown
StuyTown-Peter Cooper Village is a high-quality apartment community totaling over 11,200 units in 56 buildings on 80 acres in Manhattan. In collaboration with the City of New York, we preserved 5,000 affordable apartments for 20 years through our acquisition. In 2019, we completed our installation of the largest private multifamily residential rooftop solar project in the U.S. at the property, and became the largest multifamily rental community in the country to receive a LEED Platinum certification.
CORE+
European Logistics Portfolio
We have capitalized on continued e‑commerce tailwinds and strong logistics fundamentals in Europe by assembling a large logistics portfolio along key strategic distribution corridors. Our portfolio is comprised of high-quality assets located in major logistics hubs in countries such as Germany, France, the U.K. and Spain. The portfolio benefits from robust tenant demand as continued e-commerce growth has driven an increased need for well‑located warehouses across Europe.
CORE+
The Arch Company
In 2019, we acquired Network Rail’s U.K. commercial property estate, a high-quality portfolio of primarily infill railway arches, concentrated in central London around key transport hubs and launched The Arch Company to manage the portfolio. It is unique in its character and function, comprised of over 5,200 rental units with diverse uses including last mile logistics and storage, retail, food and beverage, office and leisure. We made a public promise to support tenants and created a Tenants’ Charter, demonstrating our long-term commitment to engage with all tenants and communities in an open and responsive manner and make the arches better places to work, build and run businesses.
OPPORTUNISTIC
The Cosmopolitan
The Cosmopolitan of Las Vegas is an iconic, luxury resort hotel and casino located in the heart of the Las Vegas Strip. Since acquiring the property, we have focused on improving operating performance and providing an excellent customer experience. We converted underutilized space into new rooms, introduced fresh restaurant concepts and upgraded the high-end gaming experience. The resort was named in the Condé Nast Traveler Gold List 2018 as one of the “Top Hotels in the World,” pointing to the success of our “fix it” technique.
CORE+
BioMed
Blackstone acquired BioMed Realty Trust, a publicly traded life science office REIT, in 2016, based on our belief in the long-term fundamentals of the life sciences sector, particularly in locations with top-tier educational and research institutions. BioMed provides purpose-built facilities to support mission-critical research by leading scientists and institutions and provides companies with campuses that help them attract and retain top talent. The sector continues to benefit from secular tailwinds including an aging population and acceleration in research & development spending. BioMed owns and operates high-quality life science real estate comprising 13-million-square feet located in the leading innovation markets throughout the U.S. and U.K.
OPPORTUNISTIC
India Office
We are one of the largest owners of Class A office space in India, with a portfolio spanning over 125 million square feet across key office markets and IT hubs. Since our first investment in 2011, we have built a portfolio that provides high-quality facilities and infrastructure to ensure a comfortable and enriching environment for our largely multinational tenants. Given employers’ increasing demand for highly-skilled workers, we believe this sector is especially poised for growth in the coming years.
Updates from Real Estate
INSIGHTS
Q&A: Luke Petherbridge and Ken Caplan on the Opportunity in Logistics
As e-commerce demand booms, logistics properties play an increasingly vital role in helping goods reach consumers quickly. Blackstone portfolio company Link Logistics offers last-mile facilities that enable rapid delivery across the U.S., especially to major urban centers. Ken Caplan, Global Co-Head of Real Estate, and Link’s CEO Luke Petherbridge discuss the evolution of the logistics industry in a new Q&A.
INSIGHTS
Q&A: James Seppala on Expanding Blackstone’s Content Creation Reach in the UK
Blackstone and Hudson Pacific Properties have announced plans to create a major new center for film, TV and digital production in the UK which is an expansion of Sunset Studios in the US.
INSIGHTS
Jon Gray Talks at PREA Investor Conference
Blackstone President Jon Gray discussed the pandemic’s differing impact across sectors and our long-term, thematic investment approach at the Pension Real Estate Association’s Annual Institutional Investor Conference.
Note: All figures as of September 30 2021, unless otherwise indicated.
* As of June 30, 2021.