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.

 
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