Deals
Blackstone Closes Record European Real Estate Refinancing Deal
- The PE firm arranged three loans for its Mileway business
- Mileway owns about 151 million square feet of warehouse space
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Blackstone Inc. has completed European real estate’s largest-ever refinancing with €8.1 billion ($8.8 billion) of fresh debt for its Mileway warehouse business.
The private equity firm has agreed a trio of five-year loans, each priced at about 2.5 percentage points over benchmark rates, according to people with knowledge of the facilities. They include a €4.2 billion loan for Mileway’s portfolio in continental Europe, an €800 million revolving credit facility and a £2.7 billion loan secured against a portion of the company’s UK assets, said the people, asking not to be identified as the details are not public.