Blackstone lends $247.5m on downtown Manhattan tower

Blackstone Mortgage Trust (BXMT) has provided a $247.5m acquisition loan on 180 Maiden Lane, a 1.2m sq ft downtown Manhattan trophy tower that MHP Realty Services and Clarion Partners purchased this week for $470m, Real Estate Capital has learned. Up to $350m in funds will be made available to the joint venture as it leases up and renovates the property following the departure of anchor tenant American International Group (AIG).