Blackstone Mortgage Trust, Inc. (NEW) - BXMT STOCK NEWS

Blackstone (NYSE: BX) has announced its largest-ever real estate investment in Japan, acquiring Tokyo Garden Terrace Kioicho for $2.6 billion (JPY 400 billion) from Seibu Holdings. This marks the largest real estate investment by a foreign investor in Japan. The 2.4-million-square-feet mixed-use asset includes two high-rise towers featuring a fully occupied Grade A+ office, 135 high-end residential units, a 250-key luxury hotel, conference venues, and over 30 retail establishments.

Since 2013, Blackstone has acquired $16 billion in Japanese real estate assets. The company will maintain partnership with Seibu Group, which will continue managing the asset and hotel operations. This acquisition aligns with Blackstone's global real estate portfolio, which includes $325 billion of investor capital under management across various sectors including logistics, data centers, residential, office, and hospitality.

Blackstone Mortgage Trust (NYSE: BXMT) has priced a private offering of $450 million in 7.750% senior secured notes due 2029. The company plans to use the net proceeds for general corporate purposes, including paying down existing secured indebtedness. The offering, to qualified institutional buyers in the US and international investors under Regulation S, is expected to close on December 10, 2024, subject to customary conditions. The notes and related guarantees are not registered under the Securities Act and cannot be offered or sold in the US without registration or exemption.

Blackstone Mortgage Trust (NYSE: BXMT) has announced a private offering of $450 million in senior secured notes due 2029. The company plans to use the net proceeds for general corporate purposes, including paying down existing secured debt. The offering is to qualified institutional buyers in the US under Rule 144A and international investors under Regulation S. The notes and related guarantees have not been registered under the Securities Act and cannot be offered or sold in the US without registration or exemption.

Blackstone Mortgage Trust (NYSE: BXMT) reported significant progress in loan repayments and resolutions during the current quarter. The company collected $1.0 billion in total repayments and completed $0.4 billion in non-performing loan resolutions. Year-to-date resolutions reached $0.9 billion, with an additional $1.0 billion of non-performing loan resolutions in closing. These resolutions represent over 60% of total non-performing loans as of September 30, 2024, achieved at or above carrying values.

Blackstone has announced plans to acquire Retail Opportunity Investments Corp. (ROIC) in an all-cash transaction valued at approximately $4 billion, including outstanding debt. The deal values ROIC shares at $17.50 per share, representing a 34% premium to ROIC's closing price on July 29, 2024. ROIC's portfolio includes 93 grocery-anchored retail properties totaling 10.5 million square feet across Los Angeles, Seattle, San Francisco, and Portland. The transaction, approved by ROIC's Board of Directors, is expected to close in the first quarter of 2025, subject to stockholder approval and customary conditions.

Blackstone Mortgage Trust (NYSE: BXMT) reported a net loss of $56 million in Q3 2024. The company posted third quarter EPS of ($0.32), Distributable EPS of $0.39, Distributable EPS prior to charge-offs of $0.49, and paid dividends of $0.47 per basic share. CEO Katie Keenan highlighted the emerging real estate market recovery, noting accelerated repayments, resolutions, and redeployment. The company maintains $1.5 billion in liquidity and is pursuing an expanding global pipeline in the current investment environment.

Blackstone Mortgage Trust (NYSE: BXMT) has announced its schedule for the release of third quarter 2024 earnings. The company will publish its earnings presentation on www.bxmt.com and file its Form 10-Q pre-market on Wednesday, October 23, 2024. Additionally, BXMT will host a conference call at 9:00 a.m. ET on the same day to review the results. Investors can register for the webcast using the provided link. For those unable to attend the live broadcast, a webcast replay will be available on the company's website approximately two hours after the event.

OYO, a global travel technology company, has agreed to acquire G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million in an all-cash transaction. This acquisition marks a significant milestone for OYO to strengthen its international presence, particularly in the United States. G6 Hospitality's franchise network generates $1.7 billion in gross room revenues, providing a strong fee base and cash flow.

OYO plans to leverage its technology suite, global distribution network, and marketing expertise to further strengthen the Motel 6 and Studio 6 brands. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. Under Blackstone's ownership, G6 Hospitality transformed into a leading asset-light lodging company with a franchise network of ~1500 hotels across the US and Canada.

Equity Residential (NYSE: EQR) has agreed to acquire 11 apartment properties from Blackstone Real Estate strategies for approximately $964 million. The portfolio consists of 3,572 apartment units located in Atlanta, Dallas/Ft. Worth, and Denver. These properties, averaging eight years old, align with Equity Residential's expansion strategy in high-growth markets.

The transaction is expected to close in the third quarter of 2024, subject to customary conditions. Equity Residential aims to leverage its operating platform to unlock additional value from these properties. The company reaffirmed its earnings guidance provided in the Second Quarter 2024 Earnings Release.

This acquisition marks a significant step towards Equity Residential's goal of increasing its net operating income from these expansion markets. The deal also highlights the strong institutional demand for high-quality rental housing assets in attractive markets.