Last year was a turbulent one for the global real estate sector. Rising interest rates increased borrowing costs, which also weighed on the value of many properties.However, those more challenging market conditions didn't stop Prologis (PLD 1.73%) from having another strong year. The leading industrial REIT grew its core funds from operations (FFO) by 11%. That was its fourth straight year of delivering double-digit earnings growth. It has now expanded its core FFO at a 10.3% compound annual rate since the ...

Tricon Residential Inc.’s stock jumped 28% on Friday after Blackstone Inc. said it would buy the Canadian real-estate-investment company and take it private for $3.5 billion. Tricon Residential Inc.’s NYSE-listed stock TCN, +28.04% TCN, +27.64% was up by $2.46, to $11.08 a share, on Friday morning. Blackstone BX, -0.02% said its Blackstone Real Estate Partners X real-estate fund and Blackstone Real Estate Income Trust Inc. will buy all outstanding common shares of Tricon for $11.25 (equivalent to C$15.17 ...

Tricon Residential Inc (TSE: TCN) opened sharply up on Friday after Blackstone Inc (NYSE: BX) said it will buy the real estate company for about $3.5 billion.Details of Tricon-Blackstone agreementCopy link to sectionThe all-cash agreement values each share of Tricon Residential at $11.25 (C$15.17). Blackstone Real Estate Income Trust and Blackstone Real Estate Partners X have come together for the said deal. Gary Berman – the chief executive of Tricon said in a press release today:We’re proud of significant ...

NEW YORK & TORONTO--(BUSINESS WIRE)--Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. (“BREIT”) will acquire all outstanding common shares of Tricon (“Common Shares”) for $11.25 (approximately C$15.17) per Common Share in cash (the “Transaction”). The Transact ...

Blackstone defaulted on the $308 million mortgage on a Manhattan office tower more than a year ago — and the debt is now up for sale at a discount of more than 50%.Special servicer Midland Loan Services was hired by brokerage Jones Lang LaSalle to sell Blackstone’s loan, which is backed by 1740 Broadway, a 26-story Art Deco-style tower between 55th and 56th streets, according to Bloomberg, citing people familiar with the matter.JLL has packaged the debt into a commercial mortgage-backed security for $150 m ...

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Investors interested in Financial - Miscellaneous Services stocks are likely familiar with Grupo Financiero Banorte SAB de CV (GBOOY) and Blackstone Inc. (BX) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with pos ...

NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) announced today that Ken Caplan, current Global Co-Head of Real Estate, and Lionel Assant, European Head of Private Equity, have been elevated to newly created roles as Global Co-Chief Investment Officers (CIOs) of Blackstone. They will enhance the coordination and oversight of the Firm’s already rigorous investment process. Nadeem Meghji, Head of Real Estate Americas, will succeed Mr. Caplan as Global Co-Head of Real Estate alongside current Global Co-Head, ...

Blackstone Inc. has raised $1.29 billion for its evergreen private equity fund for people with at least $5 million in investments as it builds up its third major pool for individual investors.Blackstone Private Equity Strategies LP, the fund that’s affiliated with Blackstone BX, +0.11%, on Monday disclosed the sales figure after reports surfaced last year that the fund had launched fundraising efforts.The fund’s portfolio consists of 17 investments and future commitments to acquire investments totaling up t ...

Blackstone Mortgage Trust (NYSE: BXMT) stock price has remained in a tight range in the past few weeks. The stock was trading at $20 on Thursday, a few points below last month’s high of $22.57. It has risen by over 40% from its 2023 lows even as its short interest has risen to 16.65%.Mixed picture fundamentallyCopy link to sectionBlackstone Mortgage Trust exists in an industry that has become modestly hated in the current high-interest rate environment. It is an mREIT, which provides senior secured loans mo ...