Blackstone raised $8 billion for its real estate fund

Investors, including Blackstone and wealthy private individuals, are seeking office properties in New York as companies encourage employees to return to physical offices.

In Europe, the growing demand for high-quality office spaces is driving rents to record levels in central London, sparking optimism among investors, despite overall office sales volumes remaining at multi-year lows.

Real estate investors, advisors, and bankers report an increasing demand for top-tier office spaces in New York, prompting them to pursue more deals.

Currently, Blackstone’s office portfolio represents less than 2% of its total properties, compared to over 60% in 2007, according to the company’s data.