Epstein Secrets

The lethargic state of global credit markets (in particular, in Europe), ma' make it difficult for financial sponsors to obtain favorable PR305378-MAXWELL_ Blackstone Real Estate Partners Europe V 73 CONFIDENTIAL UBSTERRAMAR00001920 EFTA00237551 Risk Factors and Potential Conflicts of Interest f

urrent Income from an Investment to its ER305378-MAXWELL Blackstone Real Estate Partners Europe V 27 CO

rior Performance of Blackstone Real Estate Investments. The investment objectives of the Partnership are different from the investment objectives of BREP VIII and its predecessor funds in that only a portion of those vehicles' investments were in European investments. In addition, the European markets in w

l Estate Opportunities Fund II, L.L.C. ER305378-MAXWELL CONFIDENTIAL UBSTERRAMAR00001774 EFTA00237405

h the assets and markets enabled it to underwrite GE's highly complex portfolio (612 assets: 14 countries) in less than a month. BREP Europe IV and BREP VIII acquired substantially all of the European assets in the GE portfolio. which consisted of 222 assets located in eight countries. BREP Europe IV and

OVIDED TO PROSPECTIVE INVESTORS IN SUCH ER305378-MAXWELL Blackstone Real Estate Partners Europe V 127 CO

Realized/Unrealized Gain/(Loss)" are net of €64.8 million of unrealized net currency gain. (206) Total invested capital includes amounts invested by BREP VIII and Blackstone (including its side-by- side investments). ER305378-MAXWELL 172 Blackstone Real Estate Partners Europe V CONFIDENTIAL UBSTERRAMAR