Since December of 2007, Blackstone Group has been in the market with its Real Estate Special Situations Fund. To date, it’s only accumulated $113.5 million in commitments from 40 investors, according to a regulatory filing. It has a target of $1 billion.
The fund’s focus, according to its website:
Its investment portfolio is expected to consist of a variety of real estate and real estate-related securities, including mezzanine debt, publicly-traded debt securities, whole loans, preferred equity, bridge equity, publicly-traded equity securities, and joint venture equity. BSSF is led by Michael Nash, Senior Managing Director of The Blackstone Group L.P. and the Chief Investment Officer of BSSF.