Blackstone Secures $1.1B Refi on Sun Belt Multifamily Portfolio
November 11, 2021 | TheRealDeal
Blackstone’s real estate investing arm is following up its record third quarter with a massive refinancing package.
Blackstone Real Estate Income Trust nabbed close to $1.1 billion in debt to refinance a 13-property multifamily portfolio, spanning 5,450 apartments across nine markets, most of which are in the Sun Belt.
The two-year, interest-only and floating-rate commercial mortgage-backed securities loan was originated by Wells Fargo, Bank of America and Société Générale, the Commercial Observer reported.
The loan is set to mature in October 2023, although there are three one-year extension options available, according to the Observer.
