Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties again

Blackstone selling IndCor Properties to Singapore’s GIC for $8.1B

Steve Schwarzman’s Blackstone Group said it would sell its US industrial platform IndCor Properties to affiliates of Singapore sovereign wealth fund GIC for $8.1 billion.

As a result of the deal, IndCor will no longer pursue an initial public offering filed in September, Blackstone said in a statement.

Reuters reported in November that GIC was leading a consortium to buy IndCor from Blackstone in a deal valued at about $8 billion including debt.

Chicago-based IndCor was formed in 2010 as a portfolio company of Blackstone. It owns about 117 million square feet of buildings in 29 markets, according to Bloomberg News, which said the deal enables Blackstone to exit a major investment at a profit as it invests a new series of property funds.GIC has stepped up its real-estate purchases in recent months, buying office buildings in Tokyo and investing in Australian student accommodation as a way to diversify its portfolio and secure better yields.

GIC is estimated by the Sovereign Wealth Fund Institute to manage around $320 billion in assets. Real estate accounted for 7 percent of its portfolio in the financial year to April 1, according to its annual report.

The deal is expected to close in the first quarter of 2015. Eastdil Secured, a unit of Wells Fargo, Citigroup, Barclays and RBC Capital Markets acted as advisers to Blackstone.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

So, as you can see from the first post, the smart Jews at Blackstone sold their company to GIC and made a nice profit. But why did they sell if these properties they were holding was so good? It turns out that they believe other parts of the world will have property investments that perform better, that's why they want to sell to invest in this area. Where is this area? In Asia!! So, the PAP is going all the way to North America to buy an overpriced investment from the Jews, who are going all the way to Asia to invest this money. The Jews are betting on the Asia real estate market, while the PAP are betting on the US real estate market. Who do you think is right? WHo has the better fund returns? Seems to me the PAP got played out again.

Blackstone investors look to real estate in Asia


There are better real estate investment opportunities outside the US than domestically, investors in Stephen Schwarzman’s Blackstone Group were told on Thursday.

By Dec. 31, Blackstone expects to close a $5 billion Asian real estate fund and recently raised the target on the Europe real estate fund it is raising from 5 billion to 6.6 billion euros ($9 billion).

At the same time, the private-equity powerhouse is in the process of launching a $13 billion global real estate fund, its eighth, sources said.

Blackstone’s global real estate fund — at this point — will be investing more alongside its Europe and Asian funds than previously, a source said.

Blackstone’s real estate boss Jon Gray told investors at a Thursday meeting at the Waldorf Astoria Hotel, “As the US housing market recovers, it is more challenging here,” a source at the meeting said.

Blackstone became the country’s biggest owner of single-family homes, which it then rents, but is not expanding that program into new markets.

“They see more opportunities in Asia and Europe given the dislocations there,” a source said.

A Blackstone spokesman declined comment.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

first world government running out of ideas,buying assets and companies at way over market premium because they have no idea how to make one.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

like warren buffet said,investing in gold is all about praying for a bigger fool to take it off your hands,looks like Blackstone found their bigger fool.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Papsmearer said:

So, as you can see from the first post, the smart Jews at Blackstone sold their company to GIC and made a nice profit. But why did they sell if these properties they were holding was so good? It turns out that they believe other parts of the world will have property investments that perform better, that's why they want to sell to invest in this area. Where is this area? In Asia!! So, the PAP is going all the way to North America to buy an overpriced investment from the Jews, who are going all the way to Asia to invest this money. The Jews are betting on the Asia real estate market, while the PAP are betting on the US real estate market. Who do you think is right? WHo has the better fund returns? Seems to me the PAP got played out again.

Blackstone investors look to real estate in Asia


There are better real estate investment opportunities outside the US than domestically, investors in Stephen Schwarzman’s Blackstone Group were told on Thursday.

By Dec. 31, Blackstone expects to close a $5 billion Asian real estate fund and recently raised the target on the Europe real estate fund it is raising from 5 billion to 6.6 billion euros ($9 billion).

At the same time, the private-equity powerhouse is in the process of launching a $13 billion global real estate fund, its eighth, sources said.

Blackstone’s global real estate fund — at this point — will be investing more alongside its Europe and Asian funds than previously, a source said.

Blackstone’s real estate boss Jon Gray told investors at a Thursday meeting at the Waldorf Astoria Hotel, “As the US housing market recovers, it is more challenging here,” a source at the meeting said.

Blackstone became the country’s biggest owner of single-family homes, which it then rents, but is not expanding that program into new markets.

“They see more opportunities in Asia and Europe given the dislocations there,” a source said.

A Blackstone spokesman declined comment.

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I cannot believe those individuals, going all the way to the USA to buy a corporation and/or real estate, when they should know the Asian market better.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Blackstone Jews make $2 billion profit from selling this company to GIC. Looks like they timed the market right. More losses for GIC coming soon.

So, my question is very simple. Why not just give all the CPF money directly to companies like Blackstone to manage? Their return is not bad, and they are savvy. They know they will be fired and sued if they lose money. This would eliminate the need for 1500 chiakliao bee employees at GIC, as well as the millions dollar salaries and high overhead needed to run GIC. Their head office can be sold good money. Wait...............where will the PAP park their leeching cronies and sycophants?


By
Peter Grant
Dec. 2, 2014 5:56 p.m. ET
0 COMMENTS

Singapore’s sovereign-wealth fund is making a big bet on U.S. industrial property, as a strengthening American economy and the growth of online shopping fuel demand for warehouses and distribution centers.

A venture led by GIC Pte. Ltd. is buying IndCor Properties from Blackstone Group LP for $8.1 billion. The deal, announced Monday, is one of the biggest sales of industrial property ever and would put IndCor’s 117 million square feet under GIC’s control.

IndCor’s properties are spread throughout the U.S., with many buildings near transportation hubs and population centers in states including California, Texas and New Jersey. The company is the second-largest owner of industrial property in the U.S. after San Francisco-based Prologis Inc., which owns 310 million square feet throughout the country.

For now, there is plenty of business to go around. The industrial market has rebounded after seeing vacancy rates rise and rents fall sharply during the downturn. National vacancy rates are close to fully recovered from their fall, according to Eric Frankel of Green Street Advisors. Values are 6% above their previous peak, set in 2007, after falling roughly 40% during the downturn, he said.

Indeed, Blackstone rode the improving market to a $2 billion profit on its IndCor investment, according to people familiar with the matter. The private-equity firm owned no U.S. industrial space before it began amassing its 117-million-square-foot portfolio in 2010.

But the industrial market still faces challenges. Rents, which fell 15% during the downturn, have only rebounded half that amount, though the recovery has been stronger in newer buildings and better-performing markets. Also, developers are responding to the increasing demand with new supply: Warehouses can be prepared relatively quickly, compared with properties like office buildings or hotels. Over 125 million square feet of new space will be added to the market this year, compared with about 72 million last year, experts say. “There’s a tendency for the sector to get overbuilt quickly, because there are limited barriers to entry,” said Mr. Frankel.

Executives at GIC declined to comment on the deal, which is scheduled to close in the first quarter of 2015.

The seeds of the IndCor deal were planted during the downturn. Blackstone accumulated the portfolio in a series of 18 acquisitions, often buying buildings at a discount from distressed players. Sellers included the Lehman Brothers estate. Blackstone also won a large portfolio known as CalWest by buying junior debt on the real estate and then using it to get control of the equity.

Meanwhile, during the downturn in Asia, GIC greatly expanded its investment in industrial property by buying Prologis’s Asian operations. At the time, Prologis was under financial pressure, because of the large debt it took on during the boom years, partly through its expansion into Asia.

GIC and Jeffrey Schwartz, the former chief executive of Prologis, used that portfolio to create a new company, Global Logistic Properties , which went public on the Singapore stock exchange in 2010. That company owns 301 million square feet of industrial space in China, Japan and Brazil.

Global Logistic Properties is planning to join GIC in its investment in IndCor, according to people familiar with the matter. Global Logistic issued a statement late Monday saying the company “has not entered into any binding agreement” at this time. The statement said Global Logistic “continually reviews various initiatives...including exploring various investment opportunities” and that the company will make further announcements “when appropriate.”

The U.S. industrial market is huge, encompassing about 13 billion square feet of space. Prologis’s occupancy rate increased to 95.5% in the third quarter of 2014, up from 94.2% a year earlier, according to Chris Caton, head of research for the firm. Online shopping today accounts for about 10% of leased space compared with less than 5% three years ago, Mr. Caton said. That is boosting the need for distribution space, partly because of the increasing selection of goods available on the Internet and the efforts by retailers to decrease shipping time. “The magic of the Internet is you can get anything you want,” Mr. Caton said. “What that means is you have to have those inventories available to ship to the consumer.”

Blackstone earlier this year indicated it planned to sell IndCor in an initial public offering, but changed its mind after GIC made its offer to buy the company, people familiar with the decision said.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

The leeches n their cronies can be send to blackstone group. To learn from them.

Yes why not send our CPF money to let these guys from blackstone to invest ?. To me, they are much more brillant.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

congo9 said:

The leeches n their cronies can be send to blackstone group. To learn from them.

Yes why not send our CPF money to let these guys from blackstone to invest ?. To me, they are much more brillant.

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The entire management team at GIC and Temasick are not fit to be office kopi boys at Blackstone. Send them to Blackstone to learn what? they need to grow a brain first.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

halo ge leow minimum sum ki lua zway

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Next installment few months or 1-2 years down the road GIC will announce they selling off IndCor at a substantial loss.
Watch this space

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Yup, u can practically guarantee that.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

kenna conned by Thai, Jew n Melayu Upnorth n fr Acheh........... FTs Ah Neh, Ah Tiong n Pinoys puls Micropolis loss of five hundred millions in a flash
This fucking govt is hopeless

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Leckmichamarsch said:

kenna conned by Thai, Jew n Melayu Upnorth n fr Acheh........... FTs Ah Neh, Ah Tiong n Pinoys puls Micropolis loss of five hundred millions in a flash
This fucking govt is hopeless

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Those with any conflict of interest or potential conflict of interest or appear to have any conflict of interest, as well as those who are related or potentially related by blood or through marriage to the ruling politicians, legislative, executive, judiciary, should voluntarily remove themselves from being involved or associated with any of the following: MAS, Temasick Hellings, Con Provident Fun(d), Government of Singapore Sovereign Fun(d), etc.

An individual of integrity and morals and/or Confucian values will know what to do: resign or decline any appointment to the abovementioned agencies or entities.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Blackstone is so good at turning a profit that we should consider allocating a portion of our sovereign wealth for them to manage.

Of course, what you don't know is, which one of our ministers have their wealth managed by Blackstone. Now THAT would be a scandal, wouldn't it? Fortunately we are too clever to get caught red handed like this.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

mojito said:

Blackstone is so good at turning a profit that we should consider allocating a portion of our sovereign wealth for them to manage.

Of course, what you don't know is, which one of our ministers have their wealth managed by Blackstone. Now THAT would be a scandal, wouldn't it? Fortunately we are too clever to get caught red handed like this.

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I do not believe that we have to worry because if Blackstone has such a conflict, I believe that Blackstone will step aside or simply decline to manage on behalf of the SG sovereign fund, if in the event that Blackstone has been acting in any capacity for any of the Singaporean Ministers.

Where else in the developed world or so called "First World" countries, do you see the spouse of a politician being "in charge" of the country's sovereign fund or an entity managing a significant portion of the country's wealth or assets.
Does Singapore not have any other individual who is just as qualified and capable?

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Charlie99 said:

I do not believe that we have to worry because if Blackstone has such a conflict, I believe that Blackstone will step aside or simply decline to manage on behalf of the SG sovereign fund, if in the event that Blackstone has been acting in any capacity for any of the Singaporean Ministers.

Where else in the developed world or so called "First World" countries, do you see the spouse of a politician being "in charge" of the country's sovereign fund or an entity managing a significant portion of the country's wealth or assets.
Does Singapore not have any other individual who is just as qualified and capable?

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The fund managed by Blackstone will turn a handsome profit regardless of who its investors are. Of course these same investors cannot be decision makers in the sovereign wealth fund.

Influence can be a very grey area in regimes like singapore. After all, there is no proof that Chief Justice Chan Sek Keong gave a verdict favourable to the PAP because of undue influence. The judiciary is independent you see. Everyone knows that.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Charlie99 said:

I do not believe that we have to worry because if Blackstone has such a conflict, I believe that Blackstone will step aside or simply decline to manage on behalf of the SG sovereign fund, if in the event that Blackstone has been acting in any capacity for any of the Singaporean Ministers.

Where else in the developed world or so called "First World" countries, do you see the spouse of a politician being "in charge" of the country's sovereign fund or an entity managing a significant portion of the country's wealth or assets.
Does Singapore not have any other individual who is just as qualified and capable?

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That is not how it works. The Lee and Kwa families and their cronies have a plethora of ways to make investments incognito. They commonly use nominee companies set up at and run by banks. Such as DBS Nominees. The investors nominate DBS to conduct investments for them, and under their direction. This is a big loophole in singapore law, and that is why money laundering is so rampant here. No law compels the banks to reveal who they are nominees for. If you look at the list of major shareholders of many of the GLCs, you will find the use of nominees for investors who want to remain anonymous.

The Jews don't care whether there is a conflict or not. They want to earn the fees and commissions, so they don't care who invests with them. Could be Adolf Hitler for all they care, as long as they make money from him, they will take him in as an investor. They will just advise him to use a shell company or something like that. For successful companies like Blackstone, many people with large amounts of money want to invest with them. They are over subscribed in many of their funds. This is where a large SWF like Temasek or GIC comes in. They would love to take a large investor like GIC for the prestige and also for the fact that the professionalism level is not there with GIC. Its easier for them to take $1 billion from GIC rather then from 10 investors putting in $100 million each. GIC or Temasek can easily leverage this out.

For example, GIC could say we will park $1 billion with u in this fund. But we know that you have many other investors wanting to join this fund. As an unofficial condition of this GIC investment, kindly allow DBS Nominees or this other Numbered company to invest $100 million. This smaller investment is of course Lee/Kwa money.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

mojito said:

The fund managed by Blackstone will turn a handsome profit regardless of who its investors are. Of course these same investors cannot be decision makers in the sovereign wealth fund.

Influence can be a very grey area in regimes like singapore. After all, there is no proof that Chief Justice Chan Sek Keong gave a verdict favourable to the PAP because of undue influence. The judiciary is independent you see. Everyone knows that.

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The judiciary is supposedly independent from the executive.

I am not aware of any attempted bribery, because the judiciary in Singapore appears to be bright, honest and not a supporter.

Re: Smart Jews at Blackstone con stupid PAP at GIC into overpaying for properties aga

Papsmearer said:

That is not how it works. The Lee and Kwa families and their cronies have a plethora of ways to make investments incognito. They commonly use nominee companies set up at and run by banks. Such as DBS Nominees. The investors nominate DBS to conduct investments for them, and under their direction. This is a big loophole in singapore law, and that is why money laundering is so rampant here. No law compels the banks to reveal who they are nominees for. If you look at the list of major shareholders of many of the GLCs, you will find the use of nominees for investors who want to remain anonymous.

The Jews don't care whether there is a conflict or not. They want to earn the fees and commissions, so they don't care who invests with them. Could be Adolf Hitler for all they care, as long as they make money from him, they will take him in as an investor. They will just advise him to use a shell company or something like that. For successful companies like Blackstone, many people with large amounts of money want to invest with them. They are over subscribed in many of their funds. This is where a large SWF like Temasek or GIC comes in. They would love to take a large investor like GIC for the prestige and also for the fact that the professionalism level is not there with GIC. Its easier for them to take $1 billion from GIC rather then from 10 investors putting in $100 million each. GIC or Temasek can easily leverage this out.

For example, GIC could say we will park $1 billion with u in this fund. But we know that you have many other investors wanting to join this fund. As an unofficial condition of this GIC investment, kindly allow DBS Nominees or this other Numbered company to invest $100 million. This smaller investment is of course Lee/Kwa money.

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Thank you.
Pardon me for my ignorance.
Perhaps, it appears that Singaporeans do have a concern, and to be worried.