Finance CMBS
$9B CMBS Offering Said to Be in Works for Blackstone
Dec 20, 2007
By: Barbra Murray, Contributing Editor

About two months after having wrapped up its $20 billion purchase of Hilton Hotels, the Blackstone Group L.P. is getting the ball rolling for a $9 billion commercial mortgage-backed securities offering, as per a Reuters article published today. Details of the planned offering, to be backed by Hilton Hotels, emerged in a research note by Credit Suisse.  

The list of financial entities leading the offering consists of Bear Sterns Co., Bank of America Corp., Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley. News of Blackstone's plan emerges about six months after the private equity firm orchestrated a $6.9 billion CMBS issuing; the funds were utilized for Blackstone's February acquisition of Equity Office Properties Trust in a $39 billion deal.  

If all goes as planned the Hilton-backed CMBS offering will take place during the first quarter of 2008.

 
Recent CMBS Headlines
Margolin Joins Arbor Commercial as Director
June 18, 2008
Arbor Commercial Mortgage announces the appointment of Peter Margolin to director in the firm's Chicago, Ill office.
Finance Groups Doubt SEC Plan to Tag CMBS Pools
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Proposed changes to bond ratings are raising the hackles of real estate finance groups, which worry that the Security and Exchange Commission’s new rules would slow the recovery of the CMBS market.
CMSA Study Finds CMBS Market Turning Around
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The economy may remain difficult, but the commercial mortgage-backed securities market has turned the corner. That was the determination of Jun Han, who performed an extensive study of the CMBS market for the Commercial Mortgage Securities Association. Han released the white paper and discussed his findings during a press conference at the organization’s annual convention yesterday.
 

 

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