Latest news with #Blackstone
Business Times
35 minutes ago
- Business
- Business Times
Real estate investors in Europe hold back amid tariff turmoil
[LONDON] US President Donald Trump's sweeping tariff threats have put a pin in what many hoped would be a year of recovery for European real estate markets. Commercial property sales were down 10 per cent by value in the second quarter and down 7 per cent in the first half of the year, according to data from MSCI. The number of active buyers and sellers in Europe also fell to the lowest level in more than a decade during the three months to June. US-headquartered investors were conspicuously quiet, with deals dropping by 29 per cent year on year in the first half of the year, according to MSCI's data, which tracks sales worth five million euros (S$7.4 million) or more. US funds such as TPG, Starwood, KKR and Ares were big buyers of European real estate in 2024. Blackstone, which is often a top buyer of European real estate, was ranked sixth by MSCI so far this year, behind the likes of Singapore's GIC, Norges Bank Investment Management and LondonMetric Property. 'The uncertainty that followed US tariff announcements in April meant it was natural some investors would pause from making real estate deals while they waited for clarity,' said Tom Leahy, head of real estate Emea research at MSCI. 'In contrast to the volatility in equity markets, real estate's illiquidity means lower deal volumes are often the first response to external shocks.' There were some bright spots, such as signs that Japanese investors are turning from the US to Europe. Japan-based buyers reached a record number of deals at the same time that Japanese investment into US real estate dropped by 45 per cent year on year. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Australian superannuation funds have also been active. Aware Super has deployed about £500 million (S$858 million) into London offices via its joint venture with Delancey. However, data is yet to show a material increase in deployment by Canadian investors, said Leahy. 'I don't think we can yet tell a story that Canadians are fleeing America for Europe. The data doesn't support that yet, although it has been a topic in the market.' The UK has retained its position as the largest market in Europe, even as deal-making in the country slowed. Volumes dropped by 14 per cent year on year in the first half, compared to a 15 per cent rise in Germany, an 11 per cent rise in Sweden. While the French market was flat overall, there were signs of returning interest in its offices. Sales in the sector reached 3.1 billion euros in the first half of the year, with activity concentrated in Paris. The city's La Defense district saw more than 600 million euros of property changing hands, compared to around 200 million euros in 2023 and 2024. Blackstone is set to buy the Trocadero office building in central Paris for around 705 million euros, while Gecina has bought the Solstys complex from DekaBank for 433 million euros. Fundraising continues to be tough, with MSCI Private Capital Solutions data showing that investors committed very little to new equity funds in the first quarter of 2025. 'In general, it's been difficult because real estate has underperformed other private assets,' said Leahy. 'The transaction market has also been very slow, and that means that investors aren't getting their money back from prior fund vintages, so distributions have fallen substantially.' BLOOMBERG
Hindustan Times
2 hours ago
- Politics
- Hindustan Times
Zohran Mamdani's ‘Defund the NYPD' posts surface as he visits slain cop Didarul Islam's family
Democratic mayoral nominee Zohran Mamdani posted about visiting the house of Didarul Islam, the NYPD cop killed by Shane Tamura in the Midtown Manhattan shooting. However, his post triggered backlash, with people mentioning his controversial 'defund the police' tweet from 2020. New York City Democratic mayoral candidate Zohran Mamdani speaks about mass shooting at a midtown Manhattan office tower in New York City. (REUTERS) 'Two days ago, an act of senseless violence took the lives of Officer Didarul Islam, Wesley LePatner, Aland Etienne, and Julia Hyman. Today, I visited Officer Islam's family and learned of his legacy. I ask you to join me in honoring the memory of these four New Yorkers,' Mamdani wrote. Midtown shooting victims: Wesley LePatner was a Blackstone executive killed in the shooting at the Manhattan office building in New York. The other victim of the massacre was Aland Etienne, a security officer and father. The fourth person killed in the mass shooting that rocked the city was Julia Hyman, a Cornell grad who worked at Rudin Management. Social media mocks Mamdani: An individual wrote, 'Zohran Mamdani exposed as a total fraud. Mocking cops, calling them racist, then acting like he cares? No loyalty to America. He belongs in Uganda, not leading NYC. Deport him and protect our city!' Another shared a screenshot of his 2020 post featuring the hashtag '#DefundTheNYPD.' A third questioned, 'Just think what would have happened if you would have defunded the Police like you wanted.' A fourth remarked, 'And you want to defund the police?' During the mass shooting, Mamdani was in Uganda for his wedding. He returned Wednesday and reportedly went straight to Islam's home to meet his family. He was photographed by the New York Post outside the house, holding flowers. In another picture, he was seen hugging a relative of Islam. "I landed back in New York City this morning and went directly to the home of Officer Islam, where I met with members of his family, young and old who are heartbroken over the loss of their son, of their brother, their father, their husband, their friend. Heartbroken in a way that words cannot fully describe,' Mamdani told reporters. He added, "We spent close to an hour together, there were moments that stayed with me.' Mamdani continued, "They welcomed me into their home. They refused to let me leave until I had breakfast with them," adding, "They are an embodiment of so much of what makes this city the one that we love."
Wall Street Journal
4 hours ago
- Politics
- Wall Street Journal
New York Shooting Puts Mamdani On the Spot Over Policing Views
New York City's deadliest shooting in the past 25 years has put public safety front and center in the mayoral race and highlighted a potential vulnerability for front-runner Zohran Mamdani. The killing of four people—a New York City police officer, a security guard, a senior Blackstone executive and a real-estate firm employee—in a Midtown Manhattan office building rattled a city where mass attacks are rare and overall violent crime has fallen over the last several years. It also gave Mamdani's opponents an opening to highlight his past criticism of police and question whether he could win the trust of the country's largest police force.
New York Post
7 hours ago
- Politics
- New York Post
NYPD commissioner Jessica Tisch was close with NYC mass shooting victim Wesley LePatner: ‘My beautiful friend'
NYPD Commissioner Jessica Tisch was friends with Blackstone exec Wesley LePatner, one of four people gunned down in Monday's horrific mass shooting on Park Avenue — calling the 43-year-old mom 'my beautiful friend' during a moving vigil for the victims. The two were linked through the UJA-Federation of New York, where LePatner and the top cop's mom, Merryl Tisch, both served on the Jewish philanthropic group's board of directors. Jessica Tisch acknowledged the heartbreaking connection at a Tuesday night vigil at Bryant Park for the four victims — LePatner, security guard Aland Etienne, Rudin Management associate Julia Hyman and NYPD cop Didarul Islam, a married father of two. Advertisement 4 Blackstone executive Wesley LePatner, 43, knew NYPD Commissioner Jessica Tisch through the UJA Federation. AP Flanked by Mayor Eric Adams and other officials, Tisch cited a Jewish blessing urging loved ones to focus on the good that the victims brought to those around them. 'The people who knew them best are already carrying that blessing,' she said. 'That kind of love doesn't disappear. That kind of service doesn't end. Advertisement 'Aland, Julia, my beautiful friend Wesley, and Police Officer Didarul Islam, they were taken from our arms in violence,' she said. 'They now rest in God's arms in peace. May their memories be a blessing.' In a statement Tuesday night, UJA paid homage to LePatner, a managing partner at Blackstone. 4 NYPD Commissioner Jessica Tisch revealed her connection to slay victim Wesley LePatner at a vigil Tuesday. REUTERS 4 Merryl Tisch, the mother of NYPD Commissioner Jessica Tisch, served with slay victim Wesley LePatner at the UJA. UJA Federation New York Advertisement 'Wesley was extraordinary in every way — personally, professionally, and philanthropically,' the statement said. 'An exceptional leader in the financial world, she brought thoughtfulness, vision, and compassion to everything she did. 'In 2023, we honored her with the Alan C. Greenberg Young Leadership Award at our Wall Street Dinner, recognizing her commitment to our community and her remarkable achievements, all the more notable as a woman in a traditionally male-dominated field,' the group said. LePatner also led a UJA mission to Israel following the Oct. 7, 2023, Hamas terror attack. 4 Wesley LePatner, an exexcutive with Blackstone, was one of four people gunned down by Shane Tamura on Monday. Blackstone Advertisement Tamura, a deranged Las Vegas casino security guard with a grudge against the NFL over perceived CTE issues, stormed into the building around 6:30 p.m. and opened fire — first in the lobby and later on the 33rd floor, in Rudin's offices, before taking his own life with an AR-15-style assault rifle. LePatner was among those gunned down in the lobby. 'She was a shining star,' her driver, Craig Inducci, told The Post Wednesday. 'I had never met a person like her. She was beautiful, she was brilliant, she was kind and generous. She was the total package. 'It's just terrible, terrible,' the 67-year-old Tampa native said. 'My God, she was a little thing too! Little, petite — but a dynamo.' — Additional reporting by Mikella Schuttler
New York Post
8 hours ago
- New York Post
Nutjob spotted in NYC with ‘long rifle' actually had paintball gun — but he's still under arrest
The career criminal seen casually carrying what appeared to be a long rifle around a Bronx neighborhood was actually carrying a paintball gun — but he'll still face criminal charges, police sources said Wednesday. Rodney Lance, 42, was seen strolling around the Mount Eden area around 12:30 p.m., holding the apparent firearm in his left hand while carrying a backpack, according to cops and a photo obtained by The Post. The shocking sighting briefly caused a nearby school to be placed on lockdown a day after a madman with an AR-15 style rifle stormed into a Midtown skyscraper and killed four people, cops said. 3 Rodney Lance, 42, was allegedly toting what appeared to be a rifle around a Bronx neighborhood Tuesday afternoon, sparking an NYPD investigation. Obtained by NY Post Lance was arrested about two hours later by the NYPD's Emergency Service Unit inside an apartment building on Nelson Avenue near the Edward L. Grant Highway, cops said. The weapon – which sources said was an air pistol, specifically some kind of paintball gun – was found in the building after cops executed a search warrant. Lance was charged with criminal possession of a weapon, menacing and harassment, authorities said. 3 The weapon was determined to be some kind of paintball gun, sources said. Citizen Law enforcement sources initially said Lance, a known 'emotionally disturbed' person, had more than 70 prior arrests on his record – a total that likely includes cases that have since been sealed. The NYPD officially tallied 40 previous arrests for Lance. In his most recent prior bust, Lance allegedly tried to burglarize a residential building on Judge Street near Devoe Street in East Williamsburg July 21, cops said. 3 Lance was charged with criminal possession of a weapon, menacing and harassment, cops said. Google Maps He broke in through the window, using a screwdriver, but fled empty-handed, authorities said. The latest scare came just a day after gunman Shane Tamura, 27, stormed a Manhattan building — home to Blackstone and NFL headquarters — and opened fire with a rifle around 6:30 p.m., killing four people before turning the gun on himself. Among the victims were NYPD Officer Didarul Islam, whose wife is pregnant with their third child; Blackstone executive and mother of two, Wesley LePatner; security guard Aland Etienne; and Julia Hyman, a management associate at building owner Rudin Management.
