A $1.275 billion bond deal, anchored by commercial real estate debt, that Blackstone was going to sell is on hold, according to reporting by Bloomberg.

"A group of banks including Morgan Stanley and Bank of America Corp. were in the process of selling the single-asset, single-borrower bond, which was backed by mortgage debt tied to more than 60 industrial properties located across 13 states," they wrote. "But the spread on the bonds became too wide and the sponsor decided to halt the sale process, said people with knowledge of the matter who asked not to be identified as the details are private."

A person familiar with the situation who communicated with GlobeSt.com said that it was an opportunistic refinancing deal that Blackstone would ultimately undertake only if the pricing were attractive, and it was not. The person also noted that there were no upcoming maturities involved, but that the company continues to be active in the market and has refinanced nearly $15 billion in CMBS loans since the start of 2024.

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