NEW YORK: Carson Block says he’s short Blackstone Mortgage Trust, saying the publicly traded real estate investment trust is exposed to a perfect storm of economic conditions hitting commercial real estate and may face a liquidity crisis.
The Blackstone Mortgage Trust makes loans collateralised by commercial real estate. Block, who heads short-selling firm Muddy Waters, said the trust is facing a possible liquidity crisis and may default on its loans, and he expects it will have to cut its dividend by at least half.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
