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  • Blackstone Group LP

    2019年6月18日 By wh1 0 comments

    Reality check time: Blackstone says to expect lower property returns Low interest rates and volatile markets are to blame

    Chris Heady and Lee Kok Sun

    Time to come back down to Earth: The great run of the past five years is coming to an end, the Blackstone Group warned investors on Tuesday.

    Chris Heady, Asia Pacific chairman and head of Asian real estate for Blackstone, told investors at a forum in Singapore that they should calibrate their expectations for property returns, Bloomberg reported.

    “They’re probably going to be lower over the next five years, Heady said.

    With low interest rates and volatile stock and bond markets, investors have struggled to bring in high returns.

    GIC, Singapore s sovereign fund, which was at the same forum as Blackstone, hasn t met its projected allocations when it comes to real estate. About 7 percent of the fund s portfolio is real estate, rather than the estimated 9 to 13 percent. Lee Kok Sun, GIC’s managing director, told investors on Tuesday that the fund has sold off some of its real estate as values increased, but that s made it more difficult to raise the al阿爱上海同城

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    ation percentage. He likened it to running faster and faster on a treadmill.

    GIC purchased a 95 percent stake in 60 Wall Street in January. Blackstone上海龙凤论坛sh1f

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    shedding $6.7 billion in assets, including a 25 percent stake in Hilton Worldwide Holdings. [Bloomberg] — Kathryn Brenzel 

    Tags: blackstone group, Commercial Real Estate
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