CAPRE’s Commercial Real Estate Headlines for September 13, 2019

Check out the latest deals and developments in commercial real estate for September 13, 2019: Blackstone Announces $20.5 Billion Final Close for Latest Global Real Estate Fund: Blackstone has announced the final close of its latest global real estate fund, Blackstone Real Estate Partners IX (“BREP IX”). BREP IX has $20.5 billion of total capital commitments — the largest real estate fund ever raised. Blackstone is also currently investing two regional opportunistic funds, the €7.9 billion BREP Europe V and the $7.2 billion BREP Asia II. In June, BREP IX committed to its initial investment, the purchase of GLP’s U.S. Logistics Assets for a total of $19 billion, alongside other Blackstone vehicles. This acquisition is expected to close in the coming weeks. Kathleen McCarthy, Global Co-Head of Blackstone Real Estate, said, “This fundraise reflects the excellent relationships we have with our limited partners given the strong results the BREP funds have generated for them since 1991. We are grateful to our investors for their ongoing support and look forward to putting this capital to work on their behalf.” Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-097: Freddie Mac recently priced a new offering of Structured Pass-Through Certificates, which are backed by underlying collateral consisting of fixed-rate multifamily mortgages with predominantly 10-year terms. The company expects to issue approximately $1.2 billion in K Certificates (K-097 Certificates), which are expected to settle on or about September 24, 2019. The K-097 Certificates are…