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BREDS acquires $1b performing senior mortgage loan portfolio from Deutsche Pfandbriefbank
Transactions - MAY 30, 2024

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BREDS acquires $1b performing senior mortgage loan portfolio from Deutsche Pfandbriefbank

by Andrea Zander

Blackstone Real Estate Debt Strategies (BREDS) has closed the acquisition of a $1 billion performing senior mortgage loan portfolio from leading German lender, Deutsche Pfandbriefbank (PBB). The portfolio of senior mortgage loans was originated by PBB.

The portfolio comprises 11 loans secured against performing multifamily, office and hospitality assets across the United Kingdom and United States. The loans are backed by cash-flowing, well-located assets with experienced borrowers. BREDS is acquiring the entire portfolio on an all-cash basis.

BREDS and Blackstone Real Estate Income Trust, Inc. (BREIT), recently completed the acquisition of a 20 percent stake in the $17 billion Signature Bank commercial real estate debt portfolio. The portfolio comprises more than 2,600 first mortgage loans on retail, market-rate multifamily and office properties primarily located in the New York metropolitan area.

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