National Cheat Sheet: Facebook launches ad product to compete with Zillow, Blackstone-Starwood merger creates biggest landlord in the US … & more

Facebook debuts advertising service for brokers that competes with Zillow This week Facebook debuted an advertising product geared towards residential real estate brokers, in what some experts interpret as a move to seize the turf of online listings portal Zillow. Even though Facebook and Zillow recently partnered to put Zillow ads on Facebook, the social […]

Blackstone strikes biggest European RE deal of 2016 with $3.6B OfficeFirst buy

In Europe’s largest property deal this year, private equity giant Blackstone Group has agreed to pay $3.6 billion for OfficeFirst, the real estate subsidiary of Germany’s IVG Immobilien AG. Last month, IVG — which is one of Germany’s largest property companies — gave up on an initial public offering of OfficeFirst because of investor concerns […]

Equity Office hires L&L exec to oversee NYC operations

Blackstone Group hired L&L Holding’s Simon Wasserberger as a senior vice president to oversee Equity Office’s New York operations. Blackstone’s funds bought Equity Office, which owns and manages 47 million square feet of office space across the U.S., for $36 billion in 2006. The deal was reported to be the largest leveraged buyout in history. […]