Like other investment companies, Blackstone was looking for new, and overlooked, assets.

Voters in Beverly Hills, synonymous with wealth and extravagance, are pushing back against the City Council’s approval of the first U.S. Cheval Blanc, a high-end hotel backed by the world’s richest man. Preliminary returns show opponents with a slim 60-vote or 1 percentage point margin.

The US property developer and investor is partnering with an Asian multi-family office to start a real estate fund to further tap into the Asia-Pacific market.

Business tycoon Mike Jatania is looking to sell a 12-bedroom mansion just west of London, in what would be one of the UK’s biggest-ever country house deals.

Stephen Smith says he built his $3.6 billion fortune without ever needing property prices to soar.