Blackstone’s $17 Billion Property Lending Arm Isn’t Giving Up on Its Office Bets

After a yearslong downturn that left US offices empty, Blackstone Inc. President Jon Gray sees the sector as ripe for new bets. His real estate dealmakers are preparing to scoop up a stake in a 50-story building in Midtown Manhattan, the strongest signal yet that it sees the market primed for a rebound.