Categorized | Commercial

Blackstone Group CEO Believes Commercial Property Market is Recovering

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According to Steve Schwarzman, the head of Blackstone Group, the commercial property market has already reached rock bottom, and is now in the process of recovering. He believes that now is the best time to buy in the market, as prices are very low, and will likely continue to rise in the foreseeable future.

Blackstone Group recently was a major player in the largest commercial real estate deal in years, spending nine and a half billion dollars on shopping centers across the United States. While many analysts questioned the deal at the time, Blackstone has already experienced an eight percent yield on the purchase.

Blackstone Group recently was a major player in the largest commercial real estate deal in years, spending nine and a half billion dollars on shopping centers across the United States. While many analysts questioned the deal at the time, Blackstone has already experienced an eight percent yield on the purchase.

Schwarzman believes that many of the vacancies that exist in shopping centers will soon once again fill up, as demand from tenants is there. The company has completed even more deals since making the major purchase costing nine and a half billion dollars earlier this year. They have recently acquired properties all over the globe, including various commercial real estate properties in Europe.

With prices at ridiculous low levels, Blackstone Group is maximizing its purchasing power, while being able to be very selective. They are making sure that they are buying businesses that have opportunity for vast growth. Schwarzman believes that now is the time to enter the commercial property market provided that sufficient research is done before each purchase.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

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