House prices in the US and Canada have more than doubled over the past decade.
(Photo: AP)
New York, Dusseldorf It is a clear alarm signal for the US real estate market: The US investment company Blackstone is limiting repayments from its $ 69 billion real estate fund Blackstone Real Estate Income Trust (“Breit”) due to excessive outflows. Due to too many redemption requests, the return was limited, the private equity house announced on Thursday. Only 43 percent of the applications were approved in November.
Investments in the US real estate market by private equity firms such as Blackstone are unique to the US market. In the past two years in particular, institutional investors such as Blackstone and brokerage houses such as Redfin have entered the lucrative market for single-family homes.
“Breit” has been one of the biggest players in the US real estate market since its launch in 2017. According to its own statements, the managed investor capital is around 319 billion dollars.
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