Exclusive: Blackstone seeks $800 million loan to finance New York office purchase, sources say

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Exclusive: Blackstone seeks $800 million loan to finance New York office purchase, sources say

^{Published on 2025-02-13 18:20:47 - Reuters}

Blackstone plans to take out a loan of about $800 million to finance the purchase of a stake in a 50-story office building in New York City, according to two sources familiar with the matter.

Blackstone Inc. is in the process of securing an $800 million loan to finance the acquisition of a new office space in New York, according to sources familiar with the matter. The loan, which is being arranged by major banks including JPMorgan Chase & Co, Goldman Sachs Group Inc, and Bank of America Corp, will help fund the purchase of a 25-story building located at 345 Park Avenue. This move comes as part of Blackstone's strategy to expand its real estate portfolio amidst a challenging market environment. The interest rate for the loan is expected to be set at around 250 basis points above the Secured Overnight Financing Rate (SOFR). The deal reflects ongoing confidence in the commercial real estate market despite broader economic uncertainties.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/blackstone-seeks-800-million-loan-finance-new-york-office-purchase-sources-say-2025-02-13/ ]

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