Blackstone will invest the proceeds in refinancing three UK logistics assets portfolios

Citibank priced at 798 million GBPs largest European Collateralized Mortagage Bond Securities (CMBS) since 2021. DBRS Morningstar and Moody’s rated the securitization notes of UK Logistics 2025-1 DAC. The transaction concerns the senior loans Nevis which is worth 360 million for 59 assets; Fawr Loan, million for 26 assets and 180 million Pike for 23 assets. Citibank London Branch originated these facilities that Blackstone Real Estate Partners borrowed for refinancing the acquisition of three portfolios of logistics assets for a total of more than 10 million sqms that include industrial outdoor storage facilities that are mainly in London and the Southeast of the UK.

The tranches of all securitization notes will mature in May 2035: Class A for 379 million with a rating Aaa from Moody’s and AAA from DBRS Morningstar. Class B amounts to 107.7 millioni with Aa3/AA rating; Class C of 67.9 million with A3/A rating; class D of 127.6 million with Baa3/BBB rating; Class E of 99.8 million with Ba3/BB rating; and Class F with B3/B rating.

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