US·Refinancing·Multifamily
Blackstone and Cortland Secure $845M CMBS Refinancing for 12-Property Multifamily Portfolio
Value
$845.2M
Location
Multiple Cities, Multiple Counties, Multiple States
Date
2026-03-30
Companies
Blackstone, Cortland
Blackstone and Cortland refinanced a 12-property garden-style multifamily portfolio totaling 4,922 units across six states with an $845.2 million CMBS single-asset single-borrower loan securitized as BX 2026-RISE. The loan is structured on a floating-rate interest-only basis with a 2-year initial term and three one-year extension options. The transaction underscores continued liquidity in the CMBS market for large multifamily portfolios.
cmbsmultifamilyrefinancinggarden-styleportfoliofloating-rate
Source
CRE Finance Council