Blackstone Mortgage Trust Inc. has entered into a master repurchase agreement with JPMorgan Chase Bank which calls for advances up to 153 million pounds ($252 million) to purchase loans secured by English properties.
The agreement was disclosed on an 8-K filing obtained via DisclosureNet.com.
Advances are priced at Libor plus between 200 and 325 basis points depending on the attributes of the purchased assets. The maturity date is Dec. 20, 2016.
Blackstone is a commercial mortgage real estate investment trust headquartered in New York which purchases loans on properties located in the U.S and in Europe.