Compare Standard and Premium Digital here. Blackstone Real Estate Income Trust, a fund sold in increments as little as $2,500, has raised more than $50 billion since it started five years ago. The company has now defaulted on a $562.5 million bond backed by a portfolio Sponda Oy is a Finnish real estate investment company that focuses on owning, leasing, and developing commercial properties in prime locations in Helsinki and other big Finnish cities. It is also launching a local market for up to 15 vendors. (Reporting by Jaiveer Shekhawat and Mehnaz Yasmin in Bengaluru; Editing by Anil D'Silva, Shinjini Ganguli and Josie Kao), Ukrainian pilot pair in Arizona to fly military simulators - US official, Another Norfolk Southern train derails in Ohio; company says no toxins aboard, UPDATE 1-China sets economic growth target of around 5% as parliament opens, China to develop more energy and mineral reserves and boost production, China Sets Modest Growth Target as Economic Risks Persist. Blackstone is buying the asset on behalf of Blackstone European Property Income Fund, a new perpetual life vehicle targeting the individual investor market. Shakey Nordic Property Values Impact Investors Like Blackstone. At the time of the downgrade, 297.1 million of the senior loan remained outstanding, according to Fitch. Thats why so many small businesses are leaving.. The Blackstone European Property Income Fund (BEPIF) has acquired a EUR 520 mln pan-European logistics portfolio from Elite Logistics Fund I. exams to Degree and Post graduation level. "We continue to see strong demand for high quality, sustainable office spaces that attract the best talent and employers" - JAMES SEPPALA, BLACKSTONE. There are lots of features, but with the emergence of online retailing, this sector called retail has been facing headwinds for some time.. The portfolio is about 45% vacant, having risen about 10 percentage points higher during the pandemic, according to the report. [L4N2RU1BV], UK's Landsec sells London office property to Blackstone for $263 million, This sprinting robot could become your next beach lifeguard, Domino effect as more EU institutions ban TikTok on work devices, TikTok is setting time-limits for teens. We believe it has accelerated the shift toward e-commerce on the one hand, benefiting the logistics sector, but on the other, impacting certain subsectors within physical retail., In logistics, its the last mile that he finds most interesting. Luxembourg: Blackstone European Property Income Fund Associates LP : Cayman Islands: Blackstone European Property Income Fund Associates Ltd. Cayman Islands: The risk here is that a landlord will operate on a maximum rent model and there will be an over-saturation of a particular business type to the detriment of the estate, says Leni Jones, managing director of Guardians of the Arches. Related Persons. Landsec has sold 6-9 Harbour Exchange in Londons Docklands to Blackstone European Property Income Fund (BEPIF) for 196.5m. We continue to have full confidence in the core Sponda portfolio and its management team, whose priority remains delivering high-quality retail and office assets.. The European wager echoes one Blackstone has made in the US, where it struck a record $18.7bn deal to buy a swath of urban warehouses portfolio owned by Singapores GLP. April 8, 2020, Blackstone (NYSE:BX) today announced the final close on its sixth European opportunistic real estate fund, Blackstone Real Estate Partners Europe In Eastbourne, another south coast town, LGIM is transforming another shopping center with swings, roundabouts, and seating on the theme of play. It also has more shopping centers, department stores, and insolvency regulations including company voluntary arrangements that make it easier for retailers to break leases. (Bloomberg) -- Blackstone Inc. defaulted on a 531 million ($562 million) bond backed by a portfolio of Finnish offices and stores as rising interest rates hit European property values. Please call 0800 445522 if you require an up to date offer price for this fund. Continue reading your article witha WSJ subscription, Already a member? +44 (0) 20 3075 1940, Henry Columbine The bakery and cafe occupies two arches right under London Fields train station and employs 100 staff. Learn more Detail: https://www.bepif.com/ 2 [PDF] Performance and Fee Report Fiscal Year 2020 2021.xlsm Author: nctreasurer.com Published: 06/05/2022 Review: 4.61 (553 vote) This investment is a vote of confidence in Birmingham, its thriving commercial heart, and the wider West Midlands. Each center will have an events program with book clubs, chess, exercise classes, and yoga plus art on the walls and more flexible, ad hoc retail opportunities like market stalls for entrepreneurs. Can Shell close the valuation gap with US rivals? Helical and Ashby Capital achieve first letting at The JJ Mack Building. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Our ski trip made me question my life choices, Michelle Yeoh: Finally we are being seen, Apocalypse then: lessons from history in tackling climate shocks, How Glasgows tiny, muckraking crime mag stays afloat. Through its new Blackstone European Property Income Fund, the US investment manager Blackstone has acquired a logistics platform from Singapore-based Elite Partners Capital and Macquarie Capital for 520 million. WebRepresents direct real estate investments and Blackstones open-ended European Core+ fund for institutional investors, as of December 31, 2022. And I bet that in the future, people make money out of it too.. Toronto-Dominion Bank has agreed to pay $1.2 billion to settle allegations that it aided the scheme by banking Stanford Financial despite a flurry of suspicious activities. Even so, half her family thought she was crazy. Nordic real estate has been at the forefront of Europes real estate correction after a long period of relative calm following the global financial crisis. Angus Johnston, U.K. leader of real estate at PwC, says the relationship between landlord and tenants is irrevocably changed. Four FREE articles of your .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. (Reuters) -Blackstone Inc has defaulted on a 531 million euro ($562.5 million) bond backed by a portfolio of offices and stores owned by Finnish company Sponda Oy, as rising interest rates hit European property values. UKs Land Securities Group Plc said on Friday that it has agreed to sell Harbour Exchange, a London office property, to Blackstone Inc for 196.5 million pounds ($262.82 million) as the commercial landlord reshuffles its portfolio. In March 2020, days after Prime Minister Boris Johnson ordered the U.K. into lockdown, LGIM, Janus Henderson Investors, BMO Global Asset Management, Columbia Threadneedle Investments, and Aviva Investors announced restrictions on their flagship property funds, freezing more than 10 billion worth of investments. SC asks Authum Investments to implement resolution plan for Reliance Home Finance22 hrs ago, Uttar Pradesh CM meets aggrieved Noida homebuyers, assures 'complete solution'22 hrs ago. risks and opportunities. in KSA, UAE, Qatar, Kuwait, Oman and Bahrain. In April 2020, it banned commercial property landlords from demanding rent arrears or evicting tenants. He says landlords are going to have a much closer understanding of the financial performance of their tenants and the different ways in which value is accrued to the tenant through the tenancy just as The Arch Co. is requesting to see the financial data of its tenants, and as LGIM is using turnover leases for new tenants and leveraging data analytics to be more fluid and flexible in the way it fills legacy shopping centers. Birmingham has been one of the best performing office markets in Europe over the past year in terms of vacancy for prime grade A, currently sitting around 5% vacancy, which Blackstone believes will accelerate rental growth in the Midlands city. Harrods chief shrugs off recession fears because rich get richer, FCA regulator blamed for Arms decision to shun London listing, Argentina diary: Come armed with $100 bills, There are no domestic equity investors: why companies are fleeing Londons stock market, The stark challenge facing the London stock market, Humanity is sleepwalking into a neurotech disaster, The Murdaugh trial: a southern gothic tale that gripped the nation, Who to fire? WebFund manager Direct Property Team Annual management feeB 0.75% YieldC 5.4% Premium/(Discount) (22.5)% Gearing 35.2% Net Asset Value 532.5m AIFMD Leverage Limits abrdn European Logistics Income PLC Fund managers report continues overleaf Fund managers report - continued. WebElite Logistics Fund sells pan-European logistics portfolio to Blackstone European Property Income Fund Singapore-based Elite Logistics Fund has successfully | 18 comments on LinkedIn Were not saying the Dolphin Centre is doomed; were saying it requires careful, thoughtful, remedial activities to give it a long-term future, he says. Toronto-Dominion Bank has agreed to pay $1.2 billion to settle allegations that it aided the scheme by banking Stanford Financial despite a flurry of suspicious activities. Blackstone European Property Income Fund SICAV. The drop in prices has so far not led to widespread credit losses, so some creditors are betting that rapid sales can still ensure debt is fully repaid. The new fund will likely come with a minimum investment commitment of about 25,000 euros ($29,860), according to people with knowledge of the matter. This content is only available to registered users You must be logged in to continue Would you like to read more? The bond, which was underwritten by Citigroup and Morgan Stanley, was originally secured against 63 mostly office buildings in Finland. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for $1 for 4 weeks, You will be billed $69 per month after the trial ends, Russian far-right fighter claims border stunt exposes Putins weakness, Feds Daly says US rates likely to be higher for longer, Something is boiling: Turkish football fans tackle Erdoan, Three-day weekends and more time for love: Chinas elite dream up policies for Xi, Germany and Italy stall EU ban on combustion engines, Saudi owner of Londons most expensive house sued over alleged unpaid private jet bills, Why the Jeffrey Epstein scandal continues to haunt JPMorgan and Barclays, US electric vehicle batteries poised for new lithium iron age. The office has achieved an excellent BREEAM environmental and sustainability rating. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Last Name First Name Middle Name; Blackstone Europe Fund Management S.a r.l. the 10/12 Board WebIl nexiste actuellement aucun march public de ngociation pour les parts du Fonds, et Blackstone ne sattend pas ce quun tel march se dveloppe. The future for many of these tenants is unclear. Guardians of the Arches said the offer was a resultfor tenants: Many businesses would not have survived they were considering going into liquidation rather than having to carry the burden through the crisis., Since the rent moratorium ended in July, The Arch Co. has reverted to renegotiating rental contracts. Property values are dropping in Europe as rising interest rates put off buyers until a clearer picture about how far rates will rise emerges. The universe of investment is wider, and the appeal of real estate has materially changed, Hughes says. Everything were launching is being measured to work out how we create a holistic strategy.. I was in search of an online course; Perfect e Learn The default occurred as rising interest rates hit European property values. LGIM made a bet: Two years of no income will be rewarded by creating a sustained stream of income that will grow in line with inflation, creating security of income over the long term. They called the new entity The Arch Co. The social aspect to that is something people are increasingly aware of.. Dr. Judy is a Prophet, Pastor and Life Coach. The Arch Co. said these properties needed capital investment investment that required borrowing beyond the power of a public entity like Network Rail. The world is so uncertain. Blackstone, which acquired landlord Sponda Oy in 2018, sought an extension from holders of the securitized notes to dispose of assets and repay the debt, according to people with knowledge of the plan. Complete information about investing in shares of BREIT is available in the prospectus. and other data for a number of reasons, such as keeping FT Sites reliable and secure, WebBREIT Resources | Blackstone Real Estate Income Trust Important Notice This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Blackstone Real Estate Income Trust (BREIT) is

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