Blackstone Real Estate Debt Strategies acquired $1.0 Billion Performing Senior Mortgage Loan Portfolio from Deutsche Pfandbriefbank AG (XTRA:PBB) on May 28, 2024. The portfolio comprises 11 loans secured against performing multifamily, office and hospitality assets across the U.K. and U.S. The loans are backed by cash-flowing, well-located assets with experienced borrowers. BREDS is acquiring the entire portfolio on an all-cash basis. Jones Day served as legal adviser to BREDS. King & Spalding served as legal adviser to PBB.

Blackstone Real Estate Debt Strategies completed the acquisition of $1.0 Billion Performing Senior Mortgage Loan Portfolio from Deutsche Pfandbriefbank AG (XTRA:PBB) on May 28, 2024.