Blackstone to Lend £2 Billion to Small Developers in Europe

Blackstone Inc.’s real estate debt business has agreed a tie-up with Pluto Finance that will see it lend £2 billion ($2.7 billion) over two years to small and medium sized developers and property investors in Europe.

Blackstone Real Estate Debt Strategies, which is among the largest credit providers to European real estate, will utilize Pluto’s network of typically smaller borrowers to deploy the capital through loans of between £25 million and £100 million, according to a statement Thursday. These loans will primarily target the logistics and living sectors, including rental and for-sale housing, purpose-built student accommodation and co-living projects.