Avoid the newspapers, suggests (webcast) Blackstone (BX) real estate head Jonathan Gray. There's...

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Avoid the newspapers, suggests (webcast) Blackstone (BX) real estate head Jonathan Gray. There's been a solid recovery in commercial real estate. Hotel revpar is up 6-8%, office occupancies are up 1000 bps from 3 years ago. It's no mystery: Commercial real estate deliveries - net of obsolescence - have effectively gone to zero over the past few years.