NEW YORK CITY-Speaking at the Harbor Investment Conference here on Thursday, Jonathan Gray, the global head of real estate at Blackstone Group LP, says Blackstone will be investing more capital overseas this year.
Gray envisions more bargains overseas than in the United States, noting that developing countries "are beginning to look much more interesting." Gray, who oversees approximately $80 billion in real estate investments for New York City-based Blackstone, is forecasting "very slow growth" in Europe this year, according to Bloomberg News.
"When people are forced to sell, the pricing tends to be better," he said. "In Europe, it's not a growth story. It's a distress story."
The Blackstone executive says that the U.S. economy is "not a rocket ship, but we are seeing good signs in the hotel business, in particular." See story at Bloomberg News.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
