Blackstone preps Italian CMBS

Category: CMBS Risk Management

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Blackstone is tapping the market with a €403.81m Italian CMBS. The transaction, dubbed Pietra Nera Uno, is a securitisation of three senior commercial real estate loans and two pari passu-ranking capex facilities advanced to three Italian borrowers.

The borrowers are Moma Fund (a regulated Italian real estate fund and the borrower under the Fashion District loan), Multi Veste Italy (the borrower under the Palermo loan) and Valdichiana Propco (the borrower under the Valdichiana loan).

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