The Blackstone Group has defaulted on financing related to the 2018 acquisition of Sponda Oy in Finland.
In February this year, lenders in a CMBS structure for the €513 mln portfolio of office and retails assets refused to give an extension to a loan that was due to expire.
Now, in a stock exchange announcement it has been revealed Blackstone has defaulted on the €297.1 mln loan.
The investor has reportedly been trying to sell the assets that are located around the Helsinki region
Bondolders were not in favour of a one year extension that Blackstone had been seeking.
