Millennials have started to invest in real estate, but not the traditional sense. They now buy to add another revenue stream to an investment portfolio.
42 structures will be built, which are essentially boats without the propulsion, and will completed by the end of 2016. The floating properties were designed and engineered to be part of "The World," Dubai's large artificial island project.
The Blackstone Group LP, the biggest landlord in the country with tens of thousands of residential units, is investing in Oakland, becoming the largest real estate player yet to arrive here.
Real estate has overtaken private equity as Blackstone's most high-profile and lucrative business, and the company now has the world's biggest private real estate investment business. Real estate accounted for 43 percent of Blackstone's economic net income in 2014.
Their diverse portfolio includes investments such as Hilton Hotels Corporation, La Quinta Inn, Motel 6, The Weather Channel, Seaworld, Legoland, Universal Studios Parks, and Versace.
KENNY TRUONG | #FASTAGENT
Senior Sales Associate | Climb Real Estate | climbSF.com
2011-2015 | 180+ homes sold. (#1 in Oakland home purchases, 2013-2015)
