Over the past five years, Blackstone has diverted its portfolio from retail and hotels, instead turning to one of the hottest asset classes – industrial – helping investment companies avoid the losses others now face.
The company has strengthened its presence in the EU industrial sector According to the Wall Street Journal account for 36 percent of its property value, an increase of just 9 percent in 2017. Demand for industrial space has flourished since the onset of the pandemic due to the boom in e-commerce.
In contrast, the company’s $ 341 billion retail portfolio accounted for approximately 5 percent of the value of its capital, down 19 percent in 2015. Hotels make up only 7 percent of the stock, down 23 percent in 2015.
“You had several years of expected growth.” [in online retail] compressed into last year, “Kenneth Caplan, the company’s boss, told the daily.
Black stone He also said that traditional office space accounts for only 5 percent of equity, down from 19 percent in 2015.
Instead, the company shifted its focus to specialized office space, such as laboratories of biotechnology and biological sciences and Hollywood studios.
[WSJ] – Keith Larsen