Blackstone’s $275M Hotel Portfolio Hit With Foreclosure on CMBS loan for the hotels in Chicago, San Francisco, Philadelphia and Boston

12/3/2024

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Bisnow

• Subcategory: Capital Markets: Debt, Hospitality: Hotel

• Tag: Default | Foreclosure | Legal-Lawsuit-Agreement

• Additional Filters-Subcategory: Capital Markets: Debt-CMBS

• Company: Blackstone Group (NYSE: BX)

Blackstone may not own a $275M four-hotel portfolio known as Club Quarters much longer. The CMBS loan for the hotels in Chicago, San Francisco, Philadelphia and Boston matured this month and Blackstone didn't pay the remaining balance, The Real Deal reported. Blackstone bought the 1,228-room portfolio in 2016 for $283M.