Blackstone Snags $581M Refi For GE Capital Hotel Portfolio

Law360, New York (June 4, 2013, 4:10 PM EDT) -- In yet another hospitality market-related deal for the private equity giant, affiliates of The Blackstone Group LP have secured a $581 million refinancing package from GE Capital Real Estate for 16 of its hotel properties, broker HFF announced Monday.

Per the deal, GE Capital is offering a three-year loan with a floating rate and two options for one-year extensions on the note, according to HFF. The portfolio covers a range of hotel properties spread across California, Texas, Florida, Virginia, Indiana and New Jersey.

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