Hey WSO,
Interested to see what you guys think are the best distressed real estate deals in history are. What are some of the greatest / most creative / most interesting turn-arounds in real estate. One example off the top of my head is Blackstone's acquisition of the Cosmopolitan. Purchased for $1.7 billion in 2014 from Deutche Bank, Blackstone did an amazing job finishing the asset and putting together a property management and marketing team, and plowing $250 mm + in renovations and improvements into the hotel. It was estimated to be worth nearly $3 billion in 2016 and must surely be nearing a $4 billion valuation now, although Blackstone has not yet exited their investment.
I'm young, but Blackstone also did a great job with the Hilton turnaround. I'd highly recommend reading "King of Capital" on Blackstone and Schwarzman just in general.
Ea nesciunt omnis quos reiciendis et. Hic est doloremque magnam nostrum assumenda. Inventore sequi qui aspernatur expedita tenetur.
Assumenda eveniet voluptatem quam ut sed sunt ducimus. Optio at occaecati ratione optio. Aut officiis temporibus expedita tempore eaque magni eius aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...