Blackstone

BX Trust 2019-IMC is a cash-out refinancing for an existing mortgage secured by 16 showrooms used exclusively for the home furniture and decor industry.

Schwarzman says a dramatic change in tax policy under Democratic lawmakers or a rise in interest rates by the Federal Reserve could be a shock to the economy.

Stonyrock Partners will focus on buying stakes in asset managers focused on middle-market strategies.

The buyers obtained a $597 million mortgage and $53 million of mezzanine financing from Deutsche Bank and Wells Fargo to purchase the JW Marriott Grande Lakes and Ritz-Carlton Grande Lakes.

A $215 million commercial mortgage that was used to acquire the Ritz-Carlton Kapalua is being used as collateral for a transaction called GS Mortgage Securities 2018-LUAU

Invitation Homes 2018-SFR4 recycles collateral from Colony American Homes 2015-SFR1 (53.9%) and Colony Starwood Homes 2016-SFR1 (46.1%).

A growing number of asset managers are waking up to the opportunity to lend to small and medium-sized companies, and much of this direct lending is making its way into the securitization market.

The distressed-debt manager now manages 26 U.S. CLOs totaling $15.5 billion, the most of any domestic CLO market manager.

La Quinta is spinning off a portfolio of 2014 hotels into a real estate investment trust called CorePoint; the REIT obtained a $1.035 billion mortgage from JPMorgan Chase that is being used as collateral for mortgage bonds.

Like the sponsor's February transaction, this one is backed by midsize and larger business jets, a volatile asset class; it amortizes more slowly and has looser restrictions on extending the terms of leases and loans.

IH 2018-SFR1 refinances three earlier transactions (one each from 2013, 2014 and 2015) and is initially sized at $1.1 billion; it may be upsized to $1.3 billion, depending on investor demand.

Blackstone originally included 21 of the 23 properties as collateral for a $2 billion loan issuance and securitization in 2016 to partially fund its $8.8B BioMed Realty buyout.

The €300 million Taurus 2018-1 also finances Italian retail assets that the Partners Group, based in Switzerland, purchased from the Blackstone Group in February.

The Market Center buildings in San Francisco's South Financial District includes Uber, Mindspace and TIBCO Software as tenants.

Nonbanks are originating more commercial mortgages on fixer-uppers in response to a sharp drop in the cost of funding in the securitization market. These deals are said to be "vastly different" than other CRE instruments that sustained big losses in the crisis — so far.

Just one year after it got a $1.05 billion loan from a trio of banks (Goldman, BofA and Citi), Blackstone has obtained a new, $1.3 billion loan from two more banks: Barclays and Deutsche.

It has obtained a $1.4 billion mortgage from four banks on a portfolio of 27 buildings that were previously securitized in a 2016 transaction, according to rating agency reports.

Demand for hotel rooms is running high, and mortgage bond investors are lining up to finance acquisitions and upgrades of even the largest resorts.

The new transaction, the $608 million Business Jet Securities, Series 2018-1, is less than half the size of the $1.48 billion deal pulled in September; it also appears to be less risky, by several measures.

Blackstone used the $189 million mortgage to help finance its purchase of the Turtle Bay Resort; it's planning to add rooms, but the new development will be held outside the trust.