Blackstone to Buy About $870 Million of Loans From Online Bank
The Blackstone headquarters in New York.
Photographer: Michael Nagle/BloombergBlackstone Inc. agreed to buy as much as $869 million of commercial real estate loans known as single-tenant lease financing from a unit of First Internet Bancorp.
The alternative asset manager’s Blackstone Real Estate Debt Strategies will buy the loans for roughly 95% of the unpaid balance, according to a statement Wednesday, which specified that the loans are performing — meaning borrowers have been making their payments.