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Blackstone Real Estate Income Trust Secures $690M Loan For 44 Unit Industrial Portfolio In Multiple US Markets

Property Image
FINANCED
$690,000,000
Ryan Pollack
Bo Beidleman
Trey Morsbach
+ 1

Massachusetts

See Similar Deals
Industrial3,800,000 SF
Financed 12/02/2021
the dealplayerscompscontact
Property Image
FINANCED

Blackstone Real Estate Income Trust Secures $690M Loan For 44 Unit Industrial Portfolio In Multiple US Markets

Boston, Massachusetts, United States

See Similar Deals
Industrial3,800,000 SF
Financed 12/02/2021
Ryan Pollack
Bo Beidleman
Trey Morsbach
+ 1
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$181
Total Square Footage:3,800,000 SF
Transaction Type:Loan

The property involved in this closed transaction is a 44-unit industrial portfolio located in multiple markets including Raleigh-Durham and Greensboro, North Carolina; Boston, Massachusetts; El Paso, Texas; Atlanta, Georgia; Chicago, Illinois; Salt Lake City, Utah; and Minneapolis, Minnesota. The property consists of both industrial and office space.

Summary of transaction details

  • Property Type: Industrial & Office
  • Transaction Amount: $690,000,000
  • Loan Type: Term Loan & Revolving Credit
  • Loan Term: Two-year, floating-rate

The lender for this transaction is Wells Fargo Bank, and the landlord is Blackstone Real Estate Income Trust. The deal was facilitated by JLL, with brokers Trey Morsbach, Michael Cosby, Bo Beidleman, and Ryan Pollack representing the parties involved.

Players

Michael Cosby
JLL
Michael Cosby
5 deals$1.7B volume
BROKER
Trey Morsbach
JLL
Trey Morsbach
6 deals$1.9B volume
BROKER
Bo Beidleman
JLL
Bo Beidleman
3 deals$749.1M volume
BROKER
Ryan Pollack
JLL
Ryan Pollack
4 deals$1.8B volume
BROKER
Blackstone
Blackstone
LANDLORD

Details

FINANCED
IMAGE: Trey Morsbach, Michael Cosby & Ryan Pollack DATE: 12/02/2021 ADDRESS: 44 Unit Industrial Portfolio MARKET: Raleigh-Durham and Greensboro, North Carolina; Boston, Massachusetts; El Paso, Texas; Atlanta, Georgia; Chicago, Illinois; Salt Lake City, Utah; & Minneapolis, Minnesota ASSET TYPE: Industrial & Office LENDER: Wells Fargo Bank LANDLORD: Blackstone Real Estate Income Trust BROKERS: Trey Morsbach, Michael Cosby, Bo Beidleman & Ryan Pollack - JLL LOAN AMOUNT: $690,000,000 LOAN TYPE: Term Loan & Revolving Credit LOAN TERM: two-year, floating-rate

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$690,000,000.00

Monthly NOI$4,600,000.00
Monthly Debt Service$4,361,269.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00