Blackstone has raised funding to launch the world’s largest real estate fund, aimed at snapping up potential deals across sectors such as housing rental, hospitality and data centres.
The company received $30.4 billion of the Fund’s total capital liabilities, called “Blackstone Rail Estate Partners X.
The real estate market has been pressured over the past year by a decline in commercial mortgage lending, with borrowing costs rising significantly.
At the same time, public real estate trust fund stocks also suffered amid market uncertainty and growing concerns about certain types of real estate such as offices.
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