Adept at managing commercial property portfolios worth billions of dollars, Blackstone’s local real estate managing director, Craig Newman, has upgraded his own property portfolio with a $13 million acquisition in blue-chip Mosman.

Newman and his wife, Anna – general manager of Accent Group-owned online activewear shop Stylerunner – are already Mosman locals, opting to upgrade down the hill to the tightly held Balmoral slopes.