The Blackstone Group and Ivanhoe Cambridge agreed to pay approximately $5.3 billion for New Yorks Stuyvesant Town-Peter Cooper Village multifamily complexes, reports Bloomberg. Crains New York looks at the parallels between Blackstones current acquisition of Stuyvesant Town and Tishman Speyers ill-fated purchase of the building in 2006. JPMorgan plans to spin off its private equity unit, notes the New York Times. These are among todays must reads from around the commercial real estate industry.
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