Blackstone Said to Gather $2 Billion for Real Estate
Red Chip was also involved with L&L Energy having a $17 price target on the stock when the company went public by reverse merger in 2011. More recently the company was the subject of two research reports by Murphy Analytics. (Murphy Analytics also provided the research for BluForest, Inc.
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Blackstone is targeting 5 billion euros ($6.8 billion) for the fund, called Blackstone Real Estate Partners Europe IV, said the person, who asked not to be identified because the process is private. Peter Rose , a spokesman for New York-based Blackstone, declined to comment. The fundraising progress was reported earlier today by PEI Medias PERE, a publication focused on private real estate investing. Blackstone is preparing for a growing series of real estate sales through 2014, taking advantage of rebounding value in hotels and commercial property following the global recession, Tony James , the firms president, said in July.
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Real estate’s new frontier: Crowdfunding
Like playing Monopoly, which is why some critics say it is too much, too fast. “I would say that with new construction and with properties that my company don’t exist that’s even more of a problem because there’s no guarantee that someone can’t raise money and never actually see any construction take place.” Ben Miller himself is concerned that this form of fundraising will explode far too fast, much like the dot.com bubble that inevitably burst. When the regulations go into effect that allow all investors, regardless of net worth, to join in crowdfunding anywhere in the country, it could be not just a new frontier, but a new Wild West.
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