Blackstone acquired Equity Office Properties Trust in a public-to-private transaction in February 2007. The company currently owns 103 office properties totaling 32 million square feet concentrated in Boston, New York, West Los Angeles and Northern California.
The Nido Student Living business comprises the 1,045-bed Nido King’s Cross, the 1,190-bed Nido Spitalfields, and a development site in Barcelona. Since bringing the King's Cross development to market in 2007, BREP has established Nido as a leader in the U.K. student housing market, with high occupancy and strong year-over-year rent growth.
Blackstone acquired CarrAmerica Realty Corporation in a public-to-private transaction in August 2006. The company currently owns 44 office properties totaling 8 million square feet concentrated in Silicon Valley and West Los Angeles.
Vitalia is France’s second largest healthcare provider, with over 5,300 beds across 45 clinics. BREP built Vitalia through a series of individual clinic acquisitions from 2006 to 2008 and has significantly grown same-store revenues while also improving operating margins for the platform.
Center Parcs is a leader in the UK short-break holiday market, with four parks across the UK comprising over 3,300 villas, a mix of bars, restaurants, and retail outlets and a range of indoor and outdoor leisure facilities located in over 1,600 acres of forest environment. Since acquiring Center Parcs in 2006, BREP has invested in significant refurbishments and dramatically improved operating margins. BREP recently received approval to develop a fifth site in the UK, which is scheduled to be completed in 2014.
Blackstone acquired La Quinta in a public-to-private transaction in 2006. Since acquisition, Blackstone has focused on growing the brand through additional franchise locations as well as acquisition of assets and conversion to the La Quinta brand. The brand currently includes approximately 816 hotels totaling nearly 83,000 rooms, which compares to approximately 433 hotels with over 49,000 rooms at the time of acquisition.
In 2005, Blackstone acquired the Rihga Royal hotel, a 506-room hotel in Midtown Manhattan. Blackstone has since completed an extensive renovation of the property which included all public areas and guestrooms and expanded the hotel to 563-rooms. The property has been re-branded The London NYC.
In 2004 BREP acquired the residential real estate activities of the WCM Group, comprising a portfolio of over 31,000 apartments in Germany.
Blackstone acquired Boca Resorts in a public-to-private transaction in 2004. The portfolio includes five resorts in Florida. Since acquisition, Blackstone has invested in significant renovations at several of the assets and has affiliated the Boca Raton Resort & Club and the Naples Grande Beach Resort with Hilton's Waldorf Astoria Collection, and flagged the Bahia Mar as a DoubleTree.