黑石集团：当前正是配置不动产领域的良机

Core Viewpoint - The commercial real estate sector is entering a new phase, presenting one of the most attractive entry points for investors in recent years, according to Nadeem Meghji, Global Head of Real Estate at Blackstone [1] Group 1: Market Trends - Real estate values peaked in 2022 and subsequently declined by 22% over the next two years, primarily due to rising benchmark interest rates and ongoing challenges in the office market [1] - Clear signs of value stabilization are expected by early 2024, with a gradual recovery rather than a sharp V-shaped rebound [1] Group 2: Investment Strategy - Blackstone has invested a total of $42 billion in equity since recognizing the potential for cyclical recovery, positioning its portfolio to capitalize on upcoming opportunities [1] - Current real estate prices show significant relative advantages, being only 7% above the trough, while stocks and fixed income assets remain near their peak values [1] - This combination of valuation reset and relative value creates one of the most attractive entry points for disciplined investors in recent years [1]