Blackstone is taking aim at more publicly listed REITS as the discount to NAV yawns wider.
Since the start of the pandemic the US investment management firm has developed a strategy of snapping up undervalued REITS, buying four in the past two years.
Blackstone is in pole position to buy out listed real estate companies with languishing stock market valuations, having raised $63bn for its private REIT, Blackstone Real Estate Income Trust, since it was launched in 2017.
Last week it bought American Campus Communities for $13bn, following on from last year’s acquisition of Extended Stay America for $6bn.
