Private Equity Has $300 Billion for Pandemic-Hit Real Estate
- Buyout firms are preparing for when stimulus measures dry up
- Real estate deal pipelines are growing as lockdowns bite
Butlins in Bognor Regis.
Photographer: Chris Ison/PA Images/Getty Images
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Real-estate bosses at Blackstone Group Inc. quietly smiled when Britain’s biggest-selling tabloid unwittingly endorsed their largest European real estate deal since the pandemic.
The Sun’s front page teased readers that foreign travel curbs meant they’d be splashing their cash at the much-maligned seaside town of Bognor Regis this year. Less than two weeks earlier, it had emerged Blackstone was in talks to spend about 900 million pounds ($1.3 billion) on a majority stake in the owner of Butlins, which has run a popular holiday park in the south-England town for 60 years.