Pursuits
Blackstone Said to Plan Sale of About 8,000 Berlin Apartments
This article is for subscribers only.
Blackstone Group LP plans to sell almost 8,000 German apartments it bought in 2012 as the company seeks to profit from rising property prices, two people with knowledge of the matter said.
The homes are valued at about 400 million euros ($536 million), said the people, who asked not to be identified because the information is private. Blackstone, based in New York, acquired the homes after the owner, Level One, defaulted on its debt. Most of them are in Berlin, according to one of the people. A London-based spokesman for Blackstone declined to comment.