Blackstone, the largest owner of commercial real estate globally, is part of a joint venture that has won a 20% equity stake worth $1.2bn from the Federal Deposit Insurance Corporation’s (FDIC) acquisition of the nearly $17bn commercial-property loan portfolio from collapsed Signature Bank.
Blackstone formed the venture with its Real Estate Debt Strategies fund (BREDS) and its Real Estate Income Trust fund (BREIT), Canadian giant Canada Pension Plan’s Investment Board’s
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