"New York City-based Blackstone has made the decision to walk away from its planned $405 million acquisition of the Uptown Station office project in Oakland. As a result, the global investor will have to forgo the $20 million non-refundable deposit it made on the acquisition earlier this year, according to multiple sources that are aware of the situation."
The article goes to further say that BX pulled out to volatility and financing uncertainty. Wild. They must be anticipating a repricing or market-to-market loss far exceeding their breakup costs.
Has anyone heard anything from blackstone on their post-covid outlook?