Market Chatter: Blackstone Mortgage Trust's Loan on Chicago Office Tower Defaults

MT Newswires Live06-25

A Blackstone Mortgage Trust (BXMT)-originated loan on a 40-story Chicago office tower defaulted after the debt reached its maturity deadline on June 9, Bloomberg reported Wednesday, citing a mortgage filing.

New York-based real estate firm 601W defaulted on the $343 million loan on June 9, the filing showed, according to the report.

The loan, originated by Blackstone Mortgage Trust in 2018, with roughly $159 million parceled into a commercial mortgage-backed security, represents less than 2% of its portfolio, a spokesperson for Blackstone Mortgage Trust told Bloomberg.

601W did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 17.82, Change: -0.33, Percent Change: -1.82

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