Blackstone Real Estate Debt Strategies, Blackstone Real Estate Income Trust Inc., Canada Pension Plan Investment Board, through its subsidiary CPPIB Credit Investments III Inc., and funds affiliated with Rialto Capital have entered into a newly formed joint venture with the Federal Deposit Insurance Corp. The venture acquired a 20 percent equity stake in a senior mortgage loan portfolio valued at approximately $1.2 billion. Jones Lang LaSalle served as real estate advisor to Blackstone, CPP Investments and Rialto Capital. Simpson Thacher & Bartlett represented Blackstone. The Simpson Thacher team was led by New York-based partners Lee Meyerson and Michael Chao. Gibson, Dunn & Crutcher; Ropes & Gray; Davis Polk & Wardwell; and Bilzin Sumberg Baena Price & Axelrod also acted as legal advisors to the venture.
Government
December 15, 2023, 12:12 PM