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Blackstone Mortgage Trust Inc (NYSE: BXMT) provides comprehensive commercial real estate financing through senior floating-rate loans. This news hub offers investors and analysts centralized access to essential updates about the company's lending activities, portfolio performance, and market positioning.
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Blackstone Real Estate and MRP Group have started an all-cash tender offer for Terrafina's real estate trust certificates at Ps.38.50 per certificate.
This represents a 21% premium over the unaffected price on December 4, 2023, and a 5% premium over the June 7, 2024 closing price.
The offer aims to buy up to 100% of Terrafina's certificates, providing immediate and certain value to shareholders. COFECE has approved the offer unconditionally, and it is not subject to financing or additional board and shareholder approvals.
The offer expires on July 10, 2024, at 14:00 Mexico City time, unless extended.
Blackstone Real Estate has agreed to sell Turtle Bay Resort for $725 million, which it bought in 2018 for $332 million and invested heavily in renovations. The sale will bring total proceeds to $768 million, including a recent land sale to Areté Collective. The transaction showcases Blackstone's ability to enhance luxury hospitality assets and is expected to close in Q3 2024. Turtle Bay Resort, one of the largest employers on O'ahu's North Shore, features 450 rooms and underwent significant upgrades under Blackstone's ownership.
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