Blackstone brings European logistics CMBS as spreads tighten

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By Tom Brown
23 Mar 2021

Blackstone has mandated Morgan Stanley to help it syndicate a €373.4m last mile logistics securitization with assets in the Netherlands and Germany, as conditions improve in the CMBS market. The deal is set to be priced this week.

A full capital stack is on offer, including the €160.3m ‘A1’ triple-A tranche, guided at 95bp-100bp over three month Euribor. All tranches have average lives of 5.23 years.

Initial price thoughts show the class ‘A2’ notes in the low-to-mid 100s, the ‘B’ notes at mid-100s, the ‘Cs’ in ...

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