Banks ready Blackstone European logistics CMBS

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By Tom Brown
29 Oct 2020

Bank of America, Société Générale, and BNP Paribas are arranging a multi-jurisdiction CMBS backed by a portfolio of Blackstone-owned logistics properties.

BofA will hold the risk retention piece, and the banks have already announced initial price thoughts guiding the 5.1 year senior notes at 140bp-150bp over three month Euribor.

The €318.6m Project Pearl comprises 61 mostly last-mile logistics assets in six different countries, and could price as early as Friday.

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