Real Estate
Blackstone’s Gray Says Real Estate Prices Bottoming
- Competition to buy discounted assets hasn’t been great: Gray
- Asset manager’s president sees a wave of buying opportunity
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Real estate prices are bottoming and there’s a great opportunity to move fast and buy assets at beaten-down prices, according to Blackstone Inc. President Jon Gray.
“The perception is so negative and yet the value decline has occurred, so when you get into this bottoming period that’s when you want to move,” Gray told Bloomberg Television’s Francine Lacqua in an interview in Rome, where he is attending the Bank of America Global Investor Summit conference.