Private equity firm, Blackstone Group, is planning to begin fundraising for its new real estate fund in 2011, Reuters reports. The target size of the BREP VII is expected to be of about $10 billion. Blackstone’s current real estate fund, Blackstone Real Estate Partners VI, is about 70% invested. The fund, which was launched in 2008 also raised $10 billion. Blackstone has invested $1.02 billion to buy industrial properties from ProLogic, along with an investment in hotel chain, Extended Stay America.
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