Friday, June 22, 2007

Blackstone Group Goes 'Public' Today

Remember all the hub-bub and gnashing of teeth several months ago when Blackstone Group made a big to take over Equity Office? As you might recall, especially those of my readers who followed this news in these pages, there was quite a bit of activity when other suitors stepped up and made their own unsolicited bids to buy Equity, the world's largest owner of office properties. Equity was a public company and some felt the Blackstone bid was low. Turns out they were right on with their numbers, and, ultimately succeeded in purchasing Equity.

More interestingly, today Blackstone is taking its privately held company public in a huge IPO that has had people on Wall Street talking for weeks now. As many people ask me, can that much money be made in investment properties?

My answer is virtually unchanged . . . if the big boys are doing it, there is room for everyone.

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