Blackstone's Shift in Real Estate Holdings

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Aug. 13 (Bloomberg) -- Blackstone Group agreed to buy 80 apartment properties for about $2.7 billion in one of its largest forays into the U.S. multifamily market, a person with knowledge of the deal said. Jason Kelly reports on Bloomberg Television's "Money Moves. (Source: Bloomberg)

It appears to be a big macro play on the rental market, which is interesting, given blackstone's tentacles across the real estate industry.

He talked a lot about homeownership for the last 100 years in the united states.

Here we have an investor getting into the rental market.

Blackstone has a significant presence in single-family homes and in owning that.

I have brought up a lot of distressed property.

$5.5 billion say they own roughly 30,000 homes across the united states.

The buy foreclosed homes and transform them into reptile properties -- into rental properties.

That is been big for other investors in private he equity styles -- and private equity style investors.

Lies at selling a lot of its commercial real estate properties?

Blackstone owns hilton hotels, which -- a big shopping center company, they are taking that public.

They are looking to get out of that side of the business.

That seems to be an indication that there was a peak on the commercial and hospitality side.

This seems to be an indication that maybe the residential markets have a ways to go.

For blackstone, they have to be buying and selling at all different times.

That is with their investors count on them to do.

You are pointing out some interesting stats on the company's stock price.

This morning we had a new rating come out on blackstone's stocks.

They put a price target at $32 per share.

For people who are key doubt about private equity stocks like i am, blackstone went public back in 2007 at $31 per share.

It has not seen that price since then.

The fact that wall street is looking at these stocks and finally trading above where they went public a few years back could be an indication they are starting to do the right thing from the public vester perspective.

Thank you, as always.

This text has been automatically generated. It may not be 100% accurate.

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