Blackstone, the world’s biggest private equity owner of real estate, is making a big bet on industrial real estate.
Chinese companies bought just $3.4 billion of properties in 2017, a 54 percent decline from the prior year.
The real estate unit of Brookfield Asset Management is pouncing as shares of mall companies take a beating with e-commerce putting a squeeze on brick-and-mortar retailers.
The transaction provides a benchmark for Manhattan property investors in a sluggish market and may be a sign of relief after two consecutive years of declining activity.
HNA had amassed $190 billion of assets and had $29.3 billion of short-term debt as of the end of June — more than its cash and earnings can cover.
The transaction would be the second-largest deal for a single hotel in the U.S.
GLP has been pushing deeper into US industrial real estate, including last year’s purchase of more than 200 warehouses from Industrial Income Trust Inc.
Tishman Speyer is teaming with Lenovo Group Ltd., the world’s biggest personal-computer maker, on a $1.35 billion real estate project in Shenzhen, China, marking the developer’s first foray into the country’s southern region.