Blackstone Closes Record $20.5B Real-Estate Fund



Blackstone Group Inc. has announced raising the largest-ever real estate fund of $20.5 billion to be invested in property assets around the world.

Blackstone Set to Close Record Private Equity Fund



In a move to boost purchasing power, the Blackstone Group is all set to close a $20 billion dollar private-equity real estate fund, the firm’s largest to date. The fund will essentially triple investor buying power, according to the news. Factoring the debt to equity ratio of three to one, the new Blackstone fund will […]

DiamondRock Hospitality Closes on Premium Hotels



DiamondRock Hospitality Company ( DRH) announced yesterday their completed acquisition of four hotels from affiliates of Blackstone Real Estate Partners VI. The reported purchase price was $495 million, which paid for Hilton Boston Downtown, the Westin Washington D.C. City Center, the Hilton Burlington, and the Westin San Diego. According to the news, Goldman, Sachs & Co. and BofA Merrill Lynch advised on the deal.