Blackstone has closed its sixth European real estate fund at 9.8 billion euros. Blackstone’s real estate business was founded in 1991 and currently has $163 billion of investor capital under management, according to the investment firm.
April 8, 2020, Blackstone (NYSE:BX) today announced the final close on its sixth European opportunistic real estate fund, Blackstone Real Estate Partners Europe VI (“BREP Europe VI”). BREP Europe VI has total capital commitments of €9.8 billion – the largest ever dedicated European Real Estate fund. In September 2019, BREP Europe VI committed to its initial investment, the purchase of Dream Global REIT’s high quality and diversified portfolio of office and logistics assets in Western Europe.
James Seppala, Head of Real Estate Europe, Blackstone said:
“We are delighted with the support received for BREP Europe VI and are grateful to have strong representation from both first-time and returning investors from around the world, including public-sector pension plans representing millions of retirees. The significant demand for the fund is testament to the confidence our investors have in our ability to deploy strategic long-term capital to assets and businesses across Europe. Our scale and reach allow us to put capital to work strategically during this period of elevated volatility.”
About Blackstone Real Estate:
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $163 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world.
Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).