Blackstone founder Stephen Schwarzman is eyeing opportunities as real estate owners offload good assets at knockdown prices.
In an interview with The Times to mark breaking ground on Blackstone’s new London office, Schwarzman said the firm would look to “buy very good properties that people have to sell at a very good price for our investors”.
He added: “What people are forgetting is that the underlying real estate, other than offices, may not be troubled at all. They are troubled owners, rather than troubled real estate. So they have to sell things to survive. There is hardly anyone, for example, in Europe who is interested in buying, because most people share the same problems. We do not share those problems and we have enormous pools of capital.”
