Deals
Brazil's Empty Factories May Be Blackstone's Buying Opportunity
- Nation's GDP is forecast to decline for second straight year
- Industrial property investment will take `courage, conviction'
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Images of empty factories send an unmistakable message to Brazilians: they are deep in the worst recession in at least a century. To Blackstone Group LP, there’s another takeaway: time to think about buying industrial property.
The world’s largest private-equity property investor, with $100 billion in real-estate assets, sees investment opportunities in Brazil’s industrial and logistics assets following two years of shrinking production, plant closings and growing idle capacity.