Morgan Stanley has securitised a portion of the circa £345 million whole loan which it provided to Blackstone last May to refinance the Devonshire Square estate in the City of London.
Blackstone and Prudential's £11.8 billion purchase of a loan portfolio demonstrates today's demand for non-core but performing debt.
UK Asset Resolution (UKAR), the government-mandated 'bad bank', has sold assets of former UK bank Bradford & Bingley (B&B) to Blackstone and Prudential for £11.8 billion.
Gadi Jay and Will Skinner of Blackstone tell Daniel Cunningham how they source the debt behind the firm’s European property deals.
Blackstone Real Estate Debt Strategies (BREDS) provided an £83 million whole loan for the acquisition of UK self storage company Big Box last month.
Despite challenging market conditions, a diverse array of organisations continues to provide finance to the European property sector. Real Estate Capital’s roll call of the most active lenders in European property finance today once again demonstrates the weight of capital available in the market.
A trio of European banks have provided a €210 million term loan to refinance a Polish mall owned by Blackstone’s European retail platform.
Anil Khera has left his role as a managing director in Blackstone’s real estate group in order to launch a private rented sector (PRS) development business.
Blackstone has raised $4.5 billion for Blackstone Real Estate Debt Strategies (BREDS) III fund, sources confirmed to Real Estate Capital.
Michael Zerda is the new head of Blackstone Real Estate Debt Strategies in Europe replacing Rob Harper who is returning to the US, Real Estate Capital has learned.