Rents fell from a year earlier for the third consecutive month in February as landlords competed for tenants in a market that’s overflowing with choices.
The Blackstone pool, which in July agreed to take a stake in buyout firm Leonard Green & Partners, has acquired a passive, minority stake in Boston-based Rockpoint.
Documents filed in Tokyo show that the buyer was operating on behalf of a subsidiary of Nippon Telegraph & Telephone Corp. , of which the Japanese government owns at least a third.
The deal expands Blackstone REIT’s portfolio to $7 billion in gross assets, including 33 million square feet of industrial space and 17,200 multifamily apartments.