Blackstone is exploring more acquisitions in Japanese real estate, after selling about $4.5 billion worth in the past year to capitalize on high international interest in property in the island nation.
The world’s largest alternative-asset manager is working on more acquisitions with several bids out and properties like hotels and data centers in the pipeline, according to Blackstone’s head of Japan real estate Daisuke Kitta. That comes after it spent most of last year shedding assets, including about $1.3 billion in properties sold to investors like GIC and Gaw Capital Partners, according to Cushman & Wakefield.
"Our pipeline has increased since the spring,” Kitta said in an interview in Tokyo. "Our acquisitions team is finally getting back to business.”