Blackstone Seeks €500 Million Financing, Testing Office Recovery

Blackstone Inc. is seeking the largest loan secured against an office building in Europe since interest rates spiked in 2022, a test for the nascent recovery that’s taking hold of the continent’s commercial property markets.

The private equity firm has appointed broker CBRE Group Inc. to source about €500 million ($583 million) of debt that will be secured against the Trocadero office complex in central Paris, people familiar with the process said. Blackstone has agreed to pay German fund manager Union Investment about €705 million for the property, the people said, asking not to be identified as the process is ...