Mark Twain once said: “Buy land; they're not making it anymore.” The sentiment rings as true now as ever, and if you're a real estate investor, this isn't news to you. Twain might be surprised to see how the real estate market has changed since his day, back when real estate investments might have been measured in acreage instead of rental units that number in the thousands. These days though, investors with deep pockets increasingly seek out opportunities to purchase multi-unit rental properties.
In particular, one private equity firm continues to add to its already enormous real estate portfolio. According to a recent New York Times article, Blackstone is in the process of acquiring rental communities in an investment campaign that tops $6 billion.
The Largest Real Estate Owner in the World Gets Bigger
Blackstone is the largest commercial real estate and residential real estate owner globally, and the company shows no signs of letting up on prioritizing property investments. In addition to its acquisition of Preferred Apartment Communities' 12,000 housing units and 44 multifamily communities, Blackstone recently invested $13 billion in campus housing through its purchase of American Campus Communities.
The staggering size of Blackstone's footprint says a lot about the future of real estate investing. Not only do real estate assets continue to prove a trustworthy pursuit, but the experts also seem to be betting on the return of employees to work and students to campus. Additionally, it might be safe to assume that rents will continue to rise in the coming years, especially as homebuyers face supply and demand setbacks due to a lack of new construction and low market inventory.
Call Now for Legal Help Managing Your NY Real Estate Assets
Although Blackstone is in the process of expanding its real estate portfolio, we understand that not every NY real estate investor is in the same position. If you're worried about default, or you need a dedicated real estate lawyer in NYC to help you manage your real estate assets, call (347) 389-1682 to speak to our experienced team at the office of Melvin Monachan, Attorney at Law, or contact us online today.