How does Blackstone Group improve properties?

[Patrick Philip]

Blackstone Group is the largest private equity company in the world. They have over $100 billion of real estate assets.

I just watched a video of their CEO on YouTube and he said their strategy is simple... "buy, fix, sell."

So what exactly do they do? What do they look for to find properties that have significant room for improvement?

Do large companies like this market for their own properties? Or do they use traditional methods like going on LoopNet?