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Blackstone Group Inc. BX-0.24% to Brookfield Asset Management Inc. Byom has struck a deal to buy limited self-storage from 0.06%, which is the strongest coronavirus epidemic in the entire region.
Blackstone strikes with 7.7 billion incest
The non-traded real estate investment trust of a private equity firm, known as BREIT, is buying an 8 million square foot portfolio of self-storage facilities for about 8 8 billion. The deal is expected to be announced on Monday.
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In an industry dominated by publicly traded giants such as public storage, PSA 0.26% has made it one of the largest private players in more than 120 locations in just 23 states.
According to Tyler Henries, head of U.S. acquisitions for Blatstone’s real estate, Brit, which already owns 6. million million square feet of self-storage facilities, plans to acquire small assets in the fragmented industry and run them under a simple brand. Group.
Stephen A., chairman, CEO and co-founder of Blackstone. Schwarzmann is speaking while U.S. President Donald Trump oversees a strategic and policy discussion with the CEO at the State Department Library in the Eisenhower Executive Office Fee Building (EOB).
Mr Henry said: “The opportunity to acquire a billion 1 billion storage portfolio, including a brand and a team, is incredible.
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He said Blackstone decided to make the deal based on the influence of its own self-stored assets. Such facilities are lucrative businesses because they require little like capital costs, have relatively low turnover and offer the ability to raise rent as they usually do not represent a large portion of their tenants ’monthly expenses.
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