Blackstone (BX) is planning to liquidate a $1.8B wager on senior housing that led to more than $600M in losses for the firm, Deborah Acosta and Peter Grant of The Wall Street Journal reports. Blackstone is selling off its portfolio of about 9,000 senior-housing units across the U.S. in a series of transactions with losses of up to over 70% compared to the original purchase price, an analysis by the Journal shows.
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