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At the end of last month, US private equity giant Blackstone made headlines when it took aim at listed property companies – arguing that the Reit (real esate investment trust) market is too volatile.
“I don’t know how many times the Reit market has gone up or down by 10 per cent or more over the past decade,” Blackstone president Jonathan Gray told the Financial Times. “It is not necessarily reflective of what’s happening at any one time in real estate [...] There’s much greater volatility.”