Blackstone Real Estate is optimizing art as a targeted value-add initiative for its real estate portfolio throughout New York City.
Blackstone is initiating a partnership Hunter College to recognize talented emerging artists while concomitantly giving visitors to its building portfolio throughout the city access to unique works of art.
Last week Jon Gray, Global Head of Real Estate at Blackstone, introduced a new exhibition featuring artwork by students currently enrolled in the Hunter College Master of Fine Arts program: Talia Levitt, Madhini Nirmal, Leonard Reibstein, and Andy Van Dinh.
These works of art, both paintings and large-scale works on paper, will be displayed for a year in the lobby of 5 Bryant Park.
Blackstone is the world’s largest real estate private equity firm with $102 billion of investor capital and $200 billion of gross assets under management.
Blackstone seeks to acquire high quality investments at discounts to replacement cost. The company improves the properties through hands-on management and targeted value-add initiatives.
The breadth of Blackstone’s real estate portfolio provides valuable real-time proprietary market data. Blackstone believes this information enables the company to identify mispriced and/or out-of-favor asset classes more rapidly than its competitors.
Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust (NYSE:BXMT).
See:
“Blackstone Partners with Hunter College for Student Art Exhibition at 5 Bryant Park” | Blackstone Blog, 12 June 2017
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