Vornado Realty Trust (NYSE: VNO), Hudson Pacific Properties (NYSE: HPP), Blackstone (NYSE: BX), the City of New York, and New York City Economic Development Corporation (NYCEDC) announced they have entered into Manhattan’s first public-private partnership venture to build a purpose-built studio campus at Pier 94. Vornado, who contributed its long-term leasehold for Pier 94 to the venture, will own 49.9%; Hudson Pacific will own 25.6%; and Blackstone’s institutional Core+ Real Estate strategy will own 24.5%. Vornado will be responsible for development and Hudson Pacific will provide design oversight and manage the facility’s leasing and operations.

Realty Income has signed a definitive agreement to invest approximately $950 million to acquire common and preferred equity interests in the Bellagio.

Blackstone (NYSE: BX) announced that its Tactical Opportunities business closed its fourth flagship commingled fund, Blackstone Tactical Opportunities Fund IV (“BTO IV”), raising a record $5.2 billion of capital commitments. Including other single-investor vehicles pursuing the same strategy, the combined BTO IV platform is currently expected to have nearly $10 billion of new capital in its fourth fundraising vintage.