

Blackstone Mortgage Trust (BXMT) has provided a $145.5 million non-recourse, floating-rate loan to The Generation Companies and partner StepStone Group Real Estate for a portfolio of 23 select service, extended stay hotels.
JLL managing director Bill Grice and SVP Nick Baer out of that firm’s Hotels & Hospitality Group arranged the financing, according to a statement. The 350-person global team group has completed more transactions than any other hotel and hospitality real estate advisor over the last five years, totaling more than $68 billion worldwide, closing more than 4,400 advisory, valuation and asset management assignments. according to JLL.
BXMT is a public REIT managed by the Blackstone Group, which has over $340 billion in assets under management. In May, the REIT, part of the Blackstone Real Estate Debt Strategies (BREDS) platform, headed by Mike Nash and Jonathan Pollack, provided $160 million in financing to Atlas Capital Group on a one-million-sq-ft office and retail property in Queens, New York.
The previous month Blackstone and Morgan Stanley had provided a $335 million acquisition loan to HNA Capital and MHP Real Estate Services for the acquisition of 850 Third Avenue in midtown Manhattan.