Flipping is Not Over…at least for the Blackstone Group
The Blackstone Group bought Equity Office for $39 Billion including debt. Equity Office used to be the nation’s largest office landlord.
Blackstone has since been successfully flipping the commercial properties. Six months after the deal was announced, the company had sold nearly half of the properties preserving back 70% of their initial investment. It is part of their strategy to reduce the debt load, specially since many of the properties have relatively low yields.
This just proves that there are still great opportunities for flipping properties, given the right type of property and strategy in place.
You can read more about the deal and Blackstone’s flipping strategy at therealestatebloggers.com
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POSTED IN: Office Space
1 opinion for Flipping is Not Over…at least for the Blackstone Group
Tom
Aug 18, 2008 at 4:19 pm
The Blackstone group is doing some very impessive deals. To bring it down to earth a bit and see how we are doing one SFR at a time here in Texas, check out our site at tomtarrant.com. So, the answer is yes, peopleare still profiting from flipping, they always will in any market.
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