In the first quarter, Blackstone bought hotel operator Extended Stay America, private jet operator Signature Aviation and travel firm Bourne Leisure.
The company is in preliminary discussions with prospective advisors for a REIT listing in Singapore.
The company sold two complexes for $240 million and has buyers lined up for an additional six complexes.
While open-air centers have performed well in themselves, the addition of mixed uses makes them even more attractive to investors.
Even with new businesses signing leases, retail rents in Manhattan continued to fall in the first quarter, reports Cushman & Wakefield.
Tech companies have so far been paying the rent and holding onto their space even with most workers still at home.
“Just because you’re not seeing bankruptcy filings doesn’t mean there isn’t distress,” says Mark Kronfeld, a managing director with BlackRock.
Smaller than typical garden apartment complexes, these projects are cropping up in some markets across the U.S.