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Real Estate

Brian Miller
Real Estate Editor
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October 29, 2020

On the Block: Another pandemic winner? It may be self-storage

Earlier this week, investment giant Blackstone announced that it would pay $1.2 billion for the remaining Simply Self Storage portfolio. That's not a big sum by Blackstone standards — the firm has about $564 billion under management — but it's an interesting bet in our pandemic-distorted market.

Some sectors, like restaurants and retail, are doing terribly (grocery and drug stores being the notable exception). Offices still remain a question mark. Logistics and server farms are going gangbusters. And apartments are doing okay — provided you're leasing to well-paid techies and professionals who can easily make rent, and may even be looking for larger, pricier digs during the WFH era. (That's work-from-home, if you didn't get the memo.)

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