Saturday, 25 March 2017
Last updated 4 hours ago
Jan 13 2014 | 10:00am ET
The Blackstone Group hopes to raise as much as $261.5 million for its publicly-listed real-estate finance vehicle tomorrow.
Blackstone Mortgage Trust will offer 8.5 million shares for $227.4 million. The deal's underwriters—Bank of America Merrill Lynch, Citigroup, JPMorgan Chase and Wells Fargo Securities—can sell as many as 1.275 million more, which would bring the total haul to $261.5 million.
BXMT said that the proceeds from the sale would be primarily used to make and buy more commercial mortgage loans.