Blackstone, the world’s largest alternative asset manager, has raised the largest real estate fund in history at $30B. The co-head of real estate for Blackstone Global, Kathleen McCarthy, has detailed how and where the firm will spend the money, which sectors it will avoid, and how it will avoid becoming prey rather than a predator when the market turns. McCarthy says the company will focus on data centers, rental housing, life sciences, hotels, and industrial sectors. Blackstone currently has the largest portfolio in real estate, valued at $326B, but has only spent $674M of the fund raised so far.
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A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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480.947.0600
4414 N. Civic Center Plaza #100 Scottsdale AZ. 85251