Blackstone Realizes $600 Million Gain on Economy Hotel Portfolio

The Blackstone Group has realized a $600 million cash return on its acquisition of discount lodging chain Motel 6 in 2012 for $1.9 billion. The capital recapture comes from refinancing more than 500 of the lodging chain’s hotels through a commercial mortgage securitization offering: Motel 6 Trust 2015-MTL6. The CMBS transaction is collateralized by a $1.8 billion, fixed-rate loan originated by JPMorgan Chase Bank and German American Capital...



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