Blackstone

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.

A fund controlled by the PE group obtained a $192 million loan from Wells Fargo; proceeds, along with $127 million in subordinate financing, funded the $300 million purchase.

A £366.2 million mortgage on 127 industrial properties is being used as collateral for a transaction called Taurus 2017-2 UK DAC.

The collateral for the $59.9 million transaction from DRB Capital includes life-contingent structured settlement receivables; when the beneficiary dies, the insurer stops making payments.

Lee Shaiman, who oversaw $20 billion in leveraged finance and other fixed-income investments at Blackstone, will succeed Bram Smith. who announced his retirement in early 2017.

CHT 2017-CSMO will issue six classes of notes in the $1.38 billion transaction, which will refinance a 2016 mortgage securitization and provide funds for renovation.

The private equity firm obtained a $540 million loan on the JW Marriott Grande Lakes and the Ritz-Carlton Grande Lakes, which are situated on 500 acres at the headwaters of the Everglades, from Barclays and Wells Fargo.

The company increased the concentration of sub-550 Beacon score borrowers to more than 13%, and cut the share of prime 700-plus loans by more than two-thirds from its prior deal.

A large portion of the collateral for both IH 2014-SFR2 and IH 2014-SFR3 is being rolled into a new securitization, IH 2017-SFR2.

Most of the 181 jets used as collateral were acquired from GE Capital Corp. in 2015; proceeds from prepayments and liquidations can be used to acquire additional aircraft.

A $507.6 million first mortgage on the Hotel del Coronado, a 130-year-old landmark with 1,400 linear feet of direct ocean frontage, is being securitized in BBCMS 2017-DELC. Barclays is the loan seller.