GlobeSt.com – Blackstone Adds to Growing MF Holdings

“Our core investment strategy focuses on acquiring multifamily properties to which we can bring institutional operating and management practices and better serve renter populations in key urban and suburban locations,” says Keith Rosenthal, president of Phoenix Realty Group, of the firm’s recent acquisition of a 16-property, 3,800-unit multifamily portfolio with Blackstone Real Estate Partners VIII, an affiliate of Blackstone, valued at approximately $570 million. “This transaction represented a prime opportunity for us to continue a compelling value added business plan in attractive, higher barrier-to-entry markets.”

Properties are located in the Los Angeles Metro, San Diego, Denver and southern Florida markets.

This is an excerpt of the article “Blackstone Adds to Growing MF Holdings” which appeared on GlobeSt.com on Dec. 2, 2015.