Blackstone reports Q3 loss on "soft" real estate prices

11/13/2007 | Commercial Property Executive

Blackstone Group L.P. attributed its third-quarter revenue drop to "soft" real estate prices but was buoyed by the balance in its portfolio. Commercial rents, the hotel market, replacement and construction continue to rise, said Blackstone CEO Stephen Schwarzman. Overall, Blackstone reported a loss of $113.2 million for the quarter.

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