Blackstone Mourns REIT CEO Wesley LePatner, Whose Division Led Casino Acquisitions
Posted on: July 29, 2025, 09:46h.
Last updated on: July 29, 2025, 10:10h.
- A Blackstone executive was murdered during Monday’s mass shooting in New York City
- Wesley LePatner led the company’s real estate investment division
- LePatner was one of four killed by the gunman, who later committed suicide
A top executive at private equity giant Blackstone was a victim of Monday’s mass shooting inside a Midtown Manhattan office building.
The New York Police Department (NYPD) and Mayor Eric Adams believe the gunman, Las Vegas resident Shane Tamura, 27, was targeting the NFL’s headquarters inside the office building at 345 Park Avenue but took the wrong elevator to the 33rd floor. Upon arriving, he began a firing spree with an “AR-15-style assault rifle,” as described by New York Gov. Kathy Hochul (D).
Blackstone says Wesley LePatner was one of Tamura’s four victims who died in the attack. LePatner was the chief executive officer of Blackstone Real Estate Income Trust (BREIT).
We are heartbroken to share that our colleague, Wesley LePatner, was among those who lost their lives in the tragic incident. Words cannot express the devastation we feel. Wesley was a beloved member of the Blackstone family and will be sorely missed,” a statement from Blackstone read.
“She was brilliant, passionate, warm, generous, and deeply respected within our firm and beyond. She embodied the best of Blackstone. Our prayers are with her husband, children, and family. We are also saddened by the loss of the other innocent victims as well, including brave security personnel and NYPD,” the statement continued.
Law enforcement says Tamura left a note expressing his sorrow and request for his brain to be studied. The assailant reportedly suffered from mental health issues and traumatic brain injuries, which he believed were linked to his days playing high school football.
Blackstone founder and CEO Stephen Schwarzman called yesterday the “worst day in the firm’s 40-year history.”
Blackstone Casino Investments
LePatner led Blackstone’s real estate investment trust division. She joined Blackstone, among the world’s largest private equity firms, in 2014.
LePatner served as chief executive officer of BREIT, was a member of Blackstone Real Estate’s Investment Committee, and was the global head of the organization’s Core+ Real Estate.
Under her leadership, Blackstone made considerable investments in the US gaming industry, mostly by way of Las Vegas. In 2020, Blackstone acquired 49.9% of the physical real estate assets of MGM Grand and Mandalay Bay in a deal with MGM Resorts’ REIT, MGM Growth Properties. Blackstone sold its stake in the properties when Caesars’ REIT, Vici Properties, acquired MGM Growth a year later.
Before the COVID-19 pandemic, BREIT bought MGM’s Bellagio for $4.25 billion in a sale-leaseback arrangement on annual rent of $245 million. Blackstone sold about 22% of the property in August 2023 for $950 million.
Blackstone previously owned The Cosmopolitan, the Strip resort it acquired only months after LePatner came on board with BREIT through a $1.73 billion deal. After investing about $500 million into the luxury resort, BREIT sold the property in 2022 for $5.6 billion, with MGM paying $1.6 billion for its operations and the Cherng Family Trust, headed by the founders of Panda Express, paying $4 billion for the property. Blackstone retained a small stake following the divestment.
Las Vegas Housing
Blackstone is also a major investor in Southern Nevada residential housing. The company’s bullish activities on Las Vegas real estate since the pandemic have been criticized for driving up rents and housing costs.
Last December, BREIT sold more than 4,000 housing units to Brookfield Asset Management for $845 million.
Nevada accounts for 8% of the BREIT portfolio. Only Florida (13%), Georgia (11%), and Texas (10%) account for more.
Last Comments ( 3 )
A human being was killed yesterday. And you don’t have any empathy because of your views on capitalism? What is wrong with you?
Cold, Alan. Really cold.
Doesn't sound like a real victim to me.