November 23, 2024 3:25 pm
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New York investor Blackstone snatches up $898 million in metro Phoenix real estate

 

By Catherine Reagor | Arizona Republic

One of world’s largest real estate investors just went on an apartment-buying spree in metro Phoenix, purchasing six apartment complexes for almost $311 million.

New York-based Blackstone Group closed on the apartments spanning from Surprise to Chandler on Monday, according to public real estate records.

This big acquisition comes after Blackstone spent $120 million to buy nine Valley mobile-home parks, mostly in Mesa and Apache Junction, during June and July. And in July it bought a Glendale apartment complex for $64.5 million.

In April, Blackstone paid $403 million for the iconic Arizona Biltmore resort in Phoenix.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.