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Brian Miller Real Estate Editor |
October 29, 2020
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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