Blackstone

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.