February 27, 2015 8:17 AM ET

Capital Markets

Company Overview of Blackstone Real Estate Partners VII, L.P.

Company Overview

Blackstone Real Estate Partners VII, L.P. specializes in making real estate buyout investments. It seeks to invest in opportunistic investments in distressed or non-stabilized real estate assets and real estate related companies. It typically invests globally with a focus on the United States, Canada, Europe, and Asia. The fund also seeks to invest in large-scale shopping malls, logistics facilities, mixed-use properties and office buildings in Latin America with a focus on Colombia.

345 Park Avenue

31st Floor

New York, NY 10154

United States

Founded in 2011





Key Executives for Blackstone Real Estate Partners VII, L.P.

Senior Managing Director and Head of Global Real Estate
Age: 44
Compensation as of Fiscal Year 2014.

Blackstone Real Estate Partners VII, L.P. Key Developments

Blackstone Real Estate Partners VII, L.P. and DDR Corp. Set Up JV to Purchase Shopping Centre Portfolio

US The Blackstone Group LP's fund Blackstone Real Estate Partners VII and domestic shopping centre operator DDR Corp. established a joint venture for the purpose of acquiring a portfolio of 76 shopping centres from American Realty Capital Properties Inc.

DDR Corp. and Blackstone Real Estate Partners VII Form Joint Venture to Buy 76 Shopping Centers from American Realty Capital

DDR Corp. announced that it has formed a joint venture with affiliates of Blackstone Real Estate Partners VII, to acquire 76 shopping centers currently owned by American Realty Capital Properties Inc. (ARCP) in a $1.975 billion cash deal. On May 21, American Realty Capital had announced its intention to sell substantially all its multi-tenant shopping center portfolio to Blackstone for $1.975 billion in cash. DDR now announced that the joint venture has executed a purchase and sale agreement with American Realty Capital to acquire the portfolio. The deal value includes assumed debt of $461 million and approximately $800 million of new financings. The sale is expected to close by late third quarter 2014, subject to customary closing conditions. DDR announced that the non-prime asset sales within the portfolio are expected to commence thereafter as a result of active portfolio management within the joint venture. In the new joint venture, Blackstone owns 95% of the common equity, while an affiliate of DDR owns the remaining 5%. DDR will also invest up to a maximum of $300 million in preferred equity in the joint venture with a fixed dividend rate of 8.5%. DDR has agreed to provide customary leasing and management services. DDR further said that it will have the right of first offer to acquire ten of the assets under specified conditions consistent with past transactions. DDR noted that the 16.4 million square foot portfolio in the acquisition primarily consists of prime power centers located in Los Angeles, Houston, Denver, Chicago, Atlanta, Washington D.C. and Phoenix. The portfolio is 95.1% leased. In the transaction, Goldman, Sachs & Co. and KeyBanc Capital Markets served as advisors to DDR.

Blackstone Real Estate Partners VII Acquires Hughes Center for $347 Million

Equity Office Properties announced the $347 million acquisition of Hughes Center by Blackstone Real Estate Partners VII. Hughes Center, the premier master planned office campus in Las Vegas, NV, includes 1.4 million square feet of Class A office space, several restaurants and three undeveloped parcels. Information on the selling entity is undisclosed. The investment marks the continuation of Blackstone's investment strategy to acquire high quality assets in select submarkets. Equity Office, a wholly-owned affiliate of Blackstone, will handle management operations and oversee leasing for Hughes Center. The transaction represents a significant foray into the Las Vegas market by Blackstone. Hughes Center is a 68-acre master planned development that represents the foremost business address in Las Vegas, located along Howard Hughes Parkway between Flamingo Road and Sands Avenue. Hughes Center is home to several major tenants, including Gordon Silver, Ameristar, Wells Fargo Bank, Venetian, Boyd Gaming, Snell & Wilmer, and Lewis and Roca, LLP. The project also includes several restaurants: Del Frisco's, Lawry's Prime Rib, Fogo de Chao, Bahama Breeze, Gordon Biersch Brewery and McCormick & Schmick. A new Starbucks is under construction.

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