Why is BXP selling Reston apartments now?

This week, we chat about 2 big events in the senior housing space: Blackstone’s fire sale of a $1.8B portfolio and the Sonida-CNL merger. It’s a pretty gnarly business to operate, but there’s lots of room for creative structuring. Next, we look at the behind-the-scenes wrangling at one of Brooklyn’s buzziest projects: Jonathan Landau is attempting to build Brooklyn Heights’ tallest condo, but has a quarter-billion dollar hole to fill. And finally, BXP (aka Boston Properties) is cashing in on legacy assets to fund its development pipeline. Supertalls ain’t cheap! 

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Further reading:

Inside the Capstack on Landau’s Brooklyn Moonshot: https://www.thepromote.com/p/inside-landau-s-brooklyn-capstack-bx-dst-deets

Blackstone Is Offloading a Flopped $1.8 Billion Investment in Senior Housing: https://www.wsj.com/articles/blackstone-is-offloading-a-flopped-1-8-billion-investment-in-senior-housing-4a7b85d9

The Nursing Home Power Roster: https://www.thepromote.com/p/nursing-home-power-roster-an-embezzlement-autopsy