How to invest like Blackstone: by theothersarahh
Blackstone Group's record-breaking $18.7 billion bet on 179 million square feet of U.S. warehouse space is a bet on the future of online shopping. As more and more Americans turn to internet retailers—e-commerce accounts for roughly 10% of total retail sales in the United States, up from 6% at the beginning of the decade—companies like Amazon, Walmart, and Home Depot are vying for the increasingly valuable real estate where they store and distribute their growing inventories.
Blackstone isn't the only private equity firm to take notice of the trend. Brookfield Asset Management also put in a bid for GLP's assets, and in March, mega-investment firm KKR added two major industrial distribution buildings totaling nearly one million square feet to its growing industrial real estate portfolio.
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