Ares Originates $75 M Loan for Blackstone Office Portfolio

IRVINE and NEWPORT BEACH, CA-Ares Commercial Real Estate Corporation has originated a $75 million first mortgage loan to finance Blackstone Real Estate Advisors’ newly-acquired office portfolio which consists of four properties and eight buildings totaling 521,232 square feet. The transaction closed on July 18.

“This marks our first loan transaction with Blackstone, and we are looking forward to partnering with the team on these and other attractive assets in the future,” said Bruce Cohen, president and chief operating officer of Ares. “Our strengthened capital base from our recent common stock offering has improved our ability to provide execution certainty on larger acquisition financings, which is a very important market segment for us.”