Mr Cooper Group Inc (COOP)

[t1215s]

FYI: Blackstone made billions going all-in on European warehouses before prices surged — and might've doubled its money in just 5 years Blackstone made a killing on a less glitzy corner of the commercial property market.

According to Bloomberg, the PE giant made big bets on urban warehouses across Europe starting in 2017.

Using granular, property-level data, the strategy may have doubled investors' money by 2022.

Blackstone may have doubled its money by investing in a corner of the commercial real estate market that gets less attention than massive high rises or glitzy retail.

Bloomberg's Jack Sidders writes that the private equity giant bet big on warehouses across Europe, particularly smaller, grittier urban facilities off the beaten path but which are crucial points in the delivery process known as the "last mile." Starting in 2017, Blackstone started snapping up these properties in a wave of dealmaking that saw the firm sometimes transacting in much smaller amounts than it was known for.


At one point, Bloomberg writes, Blackstone bought a warehouse from a family-owned business in Dublin, Ireland, for 1 million euros, the tiniest real estate deal ever approved by the firm's investment committee.

It made 220 deals for warehouses in its real estate funds, most of which were fairly small by Wall Street standards. According to Bloomberg, the return on these investments was wild. In the five years since it embarked on the strategy, which Blackstone's head of real estate Jon Gray called the firm's "highest conviction strategy," demand for warehouses soared.

This was only accelerated by the pandemic, which saw more and more people working remotely, doing shopping online, and boosting the value of these industrial properties while other commercial real estate sectors like offices languished.

All told, Bloomberg reports that publicly available info points to a gain of about 5 billion euros after paying off the debt used to acquire the properties, doubling the money of investors who cashed out of the firm's fifth and sixth European fund offerings in 2022.

Story continues
https://ca.finance.yahoo.com/news/blackstone-made-billions-going-european-011217569.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAI_G-8SLN7EI5tD4YcsNk3GHQcTbqJmRgKe0AyxiYh5dwVdZOcflu3dc87HCHwtIJS7IOumdysnQ6D7qmkoHIXPKHTT5MzQnZx7wz_7MrpWjupi-y1rROphNJF4dMSMwIryUQcRHg11bBMj-CafXhE6JA_60q6_PlhAXbT-Vm6II

G0G0000000coop/ Mannnnn that $50.00 Number is surely getting close n temping
Have a great day, people
GLTA-Ts