Updated Nov 27, 2024
Blackstone Acquires PSB Industrial & Office Property In California, Texas, Northern Virginia & Miami
Miami
$2,730,000,000
Building Size
—
Asset Type
Industrial
Closing
Jul 26, 2022
About this deal
AI
Blackstone, led by Stephen A. Schwarzman, has secured a loan amount of $2,730,000,000 for the PSB Purchase deal. The loan has been provided by Bank of America, Morgan Stanley, Société Générale, CitiBank, and Barclays. This transaction involves industrial and office properties located in California, Texas, Northern Virginia, and Miami.
Summary of transaction details:
- Property Type: Industrial & Office
- Transaction Amount: $2,730,000,000
- Lender: Bank of America, Morgan Stanley, Société Générale, CitiBank, Barclays
- Landlord: Blackstone - Stephen A. Schwarzman
The loan secured by Blackstone for the PSB Purchase involves properties in multiple states. This deal highlights the involvement of major financial institutions such as Bank of America, Morgan Stanley, Société Générale, CitiBank, and Barclays in providing the necessary funds. Stephen A. Schwarzman, the prominent figure behind Blackstone, represents the landlord in this transaction.
On the Map
$2,730,000,000
Industrial
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Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93