Commercial Real Estate Lending
Blackstone offers a full spectrum of on-balance-sheet structured construction, re-positioning, mini-perm, interim, and permanent financing for all stages of a commercial real estate project.
Our customers include:
Experienced real estate developers
Owners and investors
Private companies
We can help you with:
Interim and bridge financing
Mini-perm financing
Permanent financing
Rehabilitation and repositioning
Note financing
Secured and unsecured lines of credit
Letters of credit
A&D and unit construction financing
A/B structures and mezzanine financing
Subscription lines of credit for opportunity funds
Loan terms include:
On-balance-sheet portfolio financing ranging from $1 million to more than $500 million
Competitive fixed and floating rates
Non-recourse (subject to standard carveouts) and recourse financing
All major asset types
Flexible terms of 1 – 5 years, with longer terms (up to 10 years) available for select stabilized projects
We can customize a financing solution to suit your business. Our experts will work with you to ensure you receive optimal financing for your unique needs.
Commercial Mortgage-Backed Securities (CMBS)
Blackstone can provide you with greater flexibility and better execution for traditional CMBS products. You also benefit from working with a stable company that has the resources to stay with you through credit market disruptions.
Our customers include:
Commercial real estate developers and investors
Private real estate investment companies
Middle-market commercial real estate developers and investors
Our CMBS loan terms include:
All major property types
$1 million to $500+ million
Non-recourse (subject to standard carveouts)
Up to 75% LTVs
5-, 7-, or 10-year terms
25- to 30-year amortization
Fixed or floating rates
First mortgage and mezzanine loans
We can customize a financing solution to suit your business. Our experts will work with you to ensure you receive optimal financing for your unique needs.
We originate multifamily loans for Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA). We choose the organization to approach based on your specific needs so we can provide you the ideal solution with the lowest cost of financing.
Fannie Mae
Blackstone can originate, and deliver multifamily mortgages. We are able to act quickly and be flexible in structuring transactions.
Features
Extended rate lock. Lock in a rate up to 12 months in advance of funding
Supplemental mortgages.
Prepatments options Yield maintenance, defeasance, or graduated
Flexible rate options. Choose from fixed rate, adjustable rate or structured adjustable rate mortgages, or discount mortgage-backed securities Products
Standard DUS Mortgage. Financing for acquiring, refinancing, and rehabilitating multifamily properties
o Fixed+1. Attractive fixed rate for initial term, followed by a one-year adjustable-rate term, during which the loan may be repaid without a prepayment premium
o DUS Plus. Mezzanine financing combined with a conventional fixed-rate DUS loan offering additional leverage of up to 85% LTV
Affordable housing. Debt financing and equity investment, with forward commitments, bond credit enhancements, and LIHTC and Section 8 housing
Specialty financing. Available for senior housing, assisted living, independent living, student housing, and manufactured housing communities
Credit facility. Long-term and short-term flexible financing available for a single pool of cross-collateralized and cross-defaulted multifamily mortgages
Freddie Mac
Features
Early rate lock. Rate lock 30 to 180 days (up to 270 days with Freddie Mac approval) in advance of funding
Supplemental mortgages.
Prepayment options. Yield maintenance (with non-standard YM periods available) and alternative prepayment options for adjustable-rate mortgages
Flexible rate options. Choose from fixed rate, standard adjustable rate mortgages, capped adjustable rate mortgages, or fixed-to-float Products
Multifamily fixed-rate programs.
Premier lease-up execution. Extended early-rate lock (up to 18 months) can be used for qualified conventional, newly constructed, or substantially renovated properties in lease-up
Affordable housing. Debt financing and equity investment, with forward commitments, bond credit enhancements, and LIHTC and Section 8 housing
Specialty financing. Available for senior housing, assisted living, independent living, student housing, and manufactured housing communities
Credit facility. Long-term and short-term flexible financing available with non-crossed or revolving credit facility programs
FHA-insured mortgages
The FHA provides mortgage insurance to make loans to borrowers for multifamily and healthcare properties. These loans facilitate long-term, fixed-rate, fully amortizing financing, and allow financing through the issuance of tax-exempt bonds and Ginnie Mae Mortgage-Backed Securities (GNMA-MBS).
Borrowers benefit from low interest rates and high-leverage debt, saving you money and providing hard-to-obtain capital. Our originators have a combined 30 years of experience working with HUD and the FHA. We offer multifamily and specialty financing, as outlined in the National Housing Act.
Features
Low-cost financing, with low interest rate and high-leverage debt
Fully non-recourse
Supplemental mortgages
Long-term financing (up to 40 years) Multifamily Financing
Section 221(d) or Section 220. New construction or sub-rehab loans for multifamily properties
Section 223(f). Refinancing or acquisition loans for existing multifamily properties
Section 223(a)(7). Refinancing of current FHA-insured loans (all loan types)
Section 231. New construction or sub-rehab loans for age-restricted (62+) multifamily properties
Section 241(a). Supplemental loans for repairs and expansions of HUD-insured multifamily properties Healthcare Financing
Section 232. New construction or sub-rehab loans for healthcare facilities (nursing homes, assisted living facilities, board and care homes)
Section 232/223(a)(7). Refinancing of current FHA-insured healthcare transactions
Section 232/223(f). Refinancing or acquisition loans for existing healthcare facilities
Section 241(a). Supplemental loans for repairs and expansions of HUD-insured healthcare properties
Section 242. Hospital financing
Section 242/223(a)(7). Refinancing of current FHA-insured hospitals