Blackstone looks to buy more of under-construction office projects

Blackstone was an early entrant into office property and information technology (IT) parks

Blackstone, the US-based private equity fund manager, is looking to buy more of under-construction office projects. It is preferring these projects to fully built and leased properties due to more of competition, falling yield and the like.

Blackstone has been buying office property in this country since 2011, having invested in a little over 100 million sq ft. About 60 per cent of this is in completed properties.

This strategy could change. “They are more interested in properties where is there is some development potential and leasing has not happened yet. There is more interest in rent-yielding properties from pension funds and