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Property

Blackstone snaps up $1bn in Japanese real estate

US private equity giant fuels property market rebound from pandemic slump

Blackstone Group Chairman, CEO and Co-Founder Steve Schwarzman: Blackstone has ramped up investment in Japan with a focus on logistics facilities and residential properties.   © Reuters

TOKYO -- U.S. private equity firm Blackstone Group has spent about 110 billion yen ($1.05 billion) to purchase properties in major Japanese urban areas expected to see steady long-term rental demand, Nikkei has learned.

The 18 acquisitions from Asian fund PAG include office buildings, commercial facilities and rental condominiums. Most were purchased previously by General Electric's property unit before being bought by PAG in 2015.

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