{"id":47419,"date":"2015-04-10T08:12:33","date_gmt":"2015-04-10T12:12:33","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=47419"},"modified":"2015-04-10T08:12:33","modified_gmt":"2015-04-10T12:12:33","slug":"blackstone-acquires-4-6-billion-loan-portfolio-from-ge-capital","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2015\/blackstone-acquires-4-6-billion-loan-portfolio-from-ge-capital.html","title":{"rendered":"Blackstone Acquires $4.6 Billion Loan Portfolio from GE Capital"},"content":{"rendered":"

\"d210cf373cf002a04ec72ee395f66306-the-blackstone-group-lp-nyse-bx-news-analysis-blackstone-acquiring-cosmopolitan-hotel-from-deutsche-bank-in-a-major-bet-on-las-vegas\"<\/a>New York (HedgeCo.Net) – In another major acquisition, the mortgage department of hedge fund giant Blackstone Group today announced that they have signed an agreement to acquire a $4.6 billion commercial mortgage loan portfolio from GE Capital Real Estate.<\/p>\n

The loan portfolio consists of 82 first mortgage loans secured by a diverse set of commercial property types across its core and target markets, including the United States (68%), Canada (15%), the United Kingdom (10%), and Germany (7%).<\/p>\n

In March, the Blackstone group bought the\u00a0Chicago\u2019s Willis Tower, a 3.8 million square-foot office building in downtown Chicago for $1.3 billion, according to early reports. The hedge fund investor also made an undisclosed strategic investment with RedOwl Analytics, in the same month.<\/p>\n

The new acquisition is a part of the larger $23 billion acquisition of the majority of GE Capital\u2019s real estate business by investment vehicles managed by Blackstone and by Wells Fargo.<\/p>\n

“This is a huge leap forward for Blackstone Mortgage Trust (BXMT), and highlights the unparalleled benefits of being part of the Blackstone Real Estate platform.”\u00a0Michael Nash, Executive Chairman, said, “This was a complex transaction we were uniquely equipped to evaluate, and to move with speed and certainty to signing. BXMT will be adding $4.6 billion of loans, which effectively doubles the size of our asset base. We expect our stockholders will realize significant value accretion from this greater scale.”<\/p>\n

BXMT will pay $4.4 billion for the funded loan portfolio and assume $0.2 billion of unfunded commitments. Wells Fargo has agreed, subject to customary terms and conditions, to provide a $4.0 billion acquisition financing package of which $3.8 billion will be funded at closing.\u00a0The weighted average final maturity of the acquired portfolio is approximately three year.<\/p>\n

Alex Akesson
\nEditor for HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – In another major acquisition, the mortgage department of hedge fund giant Blackstone Group today announced that they have signed an agreement to acquire a $4.6 billion commercial mortgage loan portfolio from GE Capital Real Estate. The […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,3],"tags":[],"class_list":["post-47419","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=47419"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47419\/revisions"}],"predecessor-version":[{"id":47422,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/47419\/revisions\/47422"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=47419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=47419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=47419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}