{"id":296391,"date":"2023-05-30T11:25:31","date_gmt":"2023-05-30T15:25:31","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=296391"},"modified":"2023-05-30T11:25:31","modified_gmt":"2023-05-30T15:25:31","slug":"blackstone-talking-with-lenders-on-the-debt-coming-due","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/blackstone-talking-with-lenders-on-the-debt-coming-due\/","title":{"rendered":"Blackstone wrote down its stake in this Chicago office building to $0. Now it\u2019s talking with lenders on the debt coming due."},"content":{"rendered":"<h1>Blackstone wrote down its stake in this Chicago office building to $0. Now it\u2019s talking with lenders on the debt coming due.<\/h1>\n<p>May 23, 2023 | Joy Wiltermuth | Market Watch<\/p>\n<p>Blackstone Inc. began talks with its lenders about options on a maturing $309.8 million senior loan on a 1.3 million\u2013square\u2013foot office complex in the River North section of Chicago, just across the main branch of the Chicago River from the Loop central business district.<\/p>\n<p>Blackstone remains current as of its last payment on May 9 on the Class A office complex at 350 N. Orleans St., which, connected by pedestrian bridge to the city\u2019s famed Merchandise Mart, competes with high-premium addresses in its location. But the debt has transferred to special servicing, according to credit-rating firm KBRA.<\/p>\n<p>Transferring a loan to special servicing signals a kickstart of discussions between a borrower and a lender when loans in bond deals look to be at risk of default. The loan comes due in July.<\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-medium fasc-type-flat\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.msn.com\/en-us\/money\/companies\/blackstone-wrote-down-its-stake-in-this-chicago-office-building-to-0-now-it-s-talking-with-lenders-on-the-debt-coming-due\/ar-AA1bxrS6?\">\u2261 Continue Reading<\/a><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Blackstone Inc. began talks with its lenders about options on a maturing $309.8 million senior loan on a 1.3 million\u2013square\u2013foot&#8230;<\/p>\n","protected":false},"author":3464,"featured_media":227318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"single-article.php","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3010,2710,2965],"tags":[],"class_list":["post-296391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-manager-news","category-blackstone","category-performance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone wrote down its stake in this Chicago office building to $0. 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