Blackstone Inc (NYSE: BX) is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector managing $319 billion of investor capital with $577 billion in its global real estate portfolio.
Kathleen McCarthy, senior managing director and global co-head of Blackstone’s real estate sector, spoke at Urban Land Institute’s annual fall meeting last Tuesday, where she outlined her property preferences that would generate the most cash flow in the current uncertain housing environment.
“We are in a great sector for an environment like this,” McCarthy said. “In an environment where costs are rising and you need to generate cash flow growth, real estate is a great place to be overall.”
McCarthy continued, “real estate today is in a better place than it’s been than other economic environments, we never got back to those heavy levels of new construction or lending on new speculative construction.”
Blackstone Real Estate is continuing to concentrate on asset classes that offer tailwinds and in which changes in the overall economy fuel demand for those assets.
About 80% of the company’s real estate assets, according to the senior managing director, are centered on data centers, hotels, lab office spaces, rental homes, and warehouses, all of which will benefit from the future expected limited supply.
Here is a quick rundown of some of the property categories that Blackstone Real Estate focuses on:
Industrial
For more than 12 years, industrial has been the theme of Blacksone’s strongest conviction, according to McCarthy.
Multifamily
Hospitality
According to McCarthy, Blackstone continues to have “strong conviction” in this section of the real estate market, which was disrupted by the pandemic.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
