Stephen A. Schwarzman Of Blackstone’s Apartment Income REIT Secures $3.3B Refinance For Multifamily Portfolio

A multifamily portfolio consisting of 29 properties totaling 9,389 units has been refinanced. The loan amount secured for this portfolio is $3.3 billion, focusing on markets across Florida, California, Pennsylvania, Maryland, Washington, D.C., Colorado, Massachusetts, North Carolina, and Georgia. This refinancing will address $3.1 billion in existing debt while returning $156.5 million in equity to the landlord, Blackstone’s Apartment Income REIT Corp.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,300,000,000
• Loan Type: Refinance
• Loan Terms: two-year, floating-rate, interest-only note with three one-year extension options
• Average Occupancy: 94.2% as of October
• Lender: Goldman Sachs, JPMorgan, Barclays Bank, Bank of America, Citi Real Estate Funding, Royal Bank of Canada, Bank of Nova Scotia
• Landlord: Stephen A. Schwarzman - Blackstone’s Apartment Income REIT Corp

Key individuals involved in the transaction include Stephen A. Schwarzman serving as the landlord representing Blackstone’s Apartment Income REIT Corp. The lending institutions involved in this transaction are prominent financial entities, showcasing a diverse group of lenders supporting the refinancing process.