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Blackstone’s Gray Expects Moderate Growth in Real Estate

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Commercial property is moving into a “moderate growth phase” amid limited construction and favorable demand, said Jon Gray, Blackstone Group LP’s global head of real estate.

While the rate of growth for commercial real estate isn’t as strong as in the past, supply and demand fundamentals remain good, Gray said in an interview today on Bloomberg Television’s “Market Makers” with Erik Schatzker and Stephanie Ruhle.