Blackstone Group is acquiring GE Japan Corp’s residential real estate business for more than ¥190 billion ($1.6 billion), said Peter Rose, Blackstone spokesman, in an e-mail.
The residential portfolio of GE Japan Corp., which is a subsidiary of $36 billion GE Capital Real Estate, has about 200 residential properties, with more than 10,000 units primarily in Tokyo, Osaka, Nagoya and Fukuoka.
Blackstone Group is investing capital from its global real estate fund, the $13.4 billion Blackstone Real Estate Partners VII, Mr. Rose wrote.
