Invitation Homes: Blackstone’s Acquisition of 50,000 Homes

Wednesday, March 15

Invitation Homes Logo Deal SummaryIn 2012, with home prices remaining near bottomed-out levels following the Great Recession, Blackstone founded Invitation Homes, with the intention of acquiring tens of thousands of single family homes throughout the United States. In founding Invitati...

Douglas Emmett’s Redevelopment of the Sherman Oaks Galleria

Wednesday, March 15

Deal SummaryIn 1997, Douglas Emmett, a real estate investment company specializing in Class-A office buildings, acquired the Sherman Oaks Galleria for $51 million in an off-market transaction.The Sherman Oaks Galleria, which consisted of approximately 1,000,000 square feet of retail and office sp...

How NPRC flipped the Beverly Hills Robinson's-May for a $450MM Profit

Friday, January 20

Deal SummaryDuring 2004, New Pacific Realty Corporation (NPRC) acquired 8 acres of land underlying the Beverly Hills Robinson's-May from Equitable Life Assurance Society for $33.5 million.Constructed in 1952, the 240,000 square foot building originally opened for business as a Robinson's departme...

An Analysis of Blackstone's Buyout of Equity Office Properties -Part 2

Friday, January 06

Introduction to Part 2: The Selloff, Ownership Process, and AftermathFirst off, this blog post is the second post in a series of two posts about Blackstone's 2007 buyout of Equity Office Properties. The first post can be accessed via the following link:How Blackstone Tripled its Initial Investm...

An Analysis of Blackstone's Buyout of Equity Office Properties -Part 1

Friday, January 06

Deal SummaryIn February 2007, after 25 years of working its way to the top of real estate private equity, The Blackstone Group, led by Jonathan Gray, acquired Sam Zell's Equity Office Properties Trust (EOP) for $39 Billion (including debt). At the time of the buyout, Equity Office was the countr...

The Story behind Carl Icahn’s Acquisition of Fontainebleau Las Vegas

Sunday, November 27

Deal SummaryDuring the depths of the recession, billionaire investor Carl Icahn submitted the one and only qualified bid in a Miami bankruptcy court to acquire the land and improvements of the former FontaineBleau Las Vegas, for $150,000,000. The price Icahn paid for the approximately 70% comple...