Blackstone Group, the world’s largest real estate owner, has sold around $16 billion in real estate assets to Chinese investors since 2013, according to the Wall Street Journal (paywall).
On Monday, Blackstone agreed to sell a 25% stake in Hilton Worldwide Holdings to Chinese firm HNA, a deal worth $6.5 billion, reported the WSJ. HNA reportedly paid a 14.6% premium over the closing price of Hilton’s stock on Friday.
Chinese investors are eager to buy U.S. real estate assets on expectations of a weaker Yuan, which makes U.S. dollar-denominated assets a good place to protect the value of their investments.