Blackstone Secures $2.3B CMBS Financing from JPMorgan, Deutsche
JPMorgan Chase Bank and Deutsche Bank provided $2.3 billion of senior and subordinate financing against Blackstone Real Estate Partners VII’s portfolio of 451 Motel 6 and Studio 6 hotels encompassing a total of 51,904 rooms. The lenders will securitize $2.1 billion of the financing through Motel 6 Trust, 2017-MTL6.
The deal marks the first CMBS transaction to close in more than three weeks, though analysts indicate there’s an avalanche of issuance slated for September, which should push issuance for the year easily past last year’s $68.1 billion of volume.
Net issuance this quarter is expected to increase for the first time in more than two years, with issuance exceeding run-off. Issuance for the year has hit $49.2 billion, which puts it nearly 10% ahead of last year’s total at the same time. So far this quarter, a total of $15.2 billion in CMBS deals have priced.
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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