Term Sheet: Blackstone’s gated REIT, Citi’s value plummet prediction, Cheyne’s high-end hotels loan

Blackstone's gated private REIT is a sign of things to come as investors seek liquidity; Citi’s prediction of a sharp decline in London office values spells concern for lenders; Cheyne Capital’s European hotels loan hints at lender demand for lifestyle hospitality deals; and more in today’s briefing, exclusively for our valued subscribers.