Blackstone is deploying capital because it sees the current environment as ideal, according to Kathleen McCarthy, its global co-head of real estate, speaking this week on CNBC.

"We feel like there's a bottoming happening," she said. "We've said there's no V-shape recovery. It's not going to be a straight line up from here."

She said when looking at some of the key pillars of how a recovery comes into place, they are strong.

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