Stephen A. Schwarzman Of Blackstone Real Estate Income Trust Secures $845.2M Refinance Loan

A multifamily portfolio consisting of 4,922 units across various markets including Tampa & Boynton Beach, FL; Roswell & Marietta, GA; Denver, CO; Austin & San Antonio, TX; Mesa, AZ; Charlotte & Raleigh, NC was involved in this transaction. The landlord is Stephen A. Schwarzman, representing Blackstone Real Estate Income Trust. The loan amount secured for refinancing this portfolio is $845,200,000 with a loan type classified as a two-year floating-rate.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $845,200,000
• Units: 4,922
• Asset Locations: Tampa & Boynton Beach, FL; Roswell & Marietta, GA; Denver, CO; Austin & San Antonio, TX; Mesa, AZ; Charlotte & Raleigh, NC
• Lender Group: Deutsche Bank, Société Générale, Bank of Montreal, Nomura
• Landlord: Stephen A. Schwarzman - Blackstone Real Estate Income Trust
• Loan Terms: two-year floating-rate
• Existing Debt to Refinance: $924.5 million
• New Equity Contribution: $94.1 million

The refinancing deal involves a structured loan orchestrated by a group of lenders led by Deutsche Bank, with additional participation from Société Générale, Bank of Montreal, and Nomura. Blackstone Real Estate Income Trust secured this financing to refinance existing obligations and contributed further equity for the ongoing investment in their multifamily holdings, which were originally acquired from Cortland Sponsors LLC.