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Blackstone’s $2.3 billion Alexander & Baldwin deal drives end-of-quarter CMBS activity

Private equity giant bets big on Hawaii retail, Sun Belt apartments in latest bond offerings
Alexander & Baldwin's holdings include Queens' Marketplace, located within the Waikoloa Beach Resort on the island of Hawaii. (CoStar)
Alexander & Baldwin's holdings include Queens' Marketplace, located within the Waikoloa Beach Resort on the island of Hawaii. (CoStar)
CoStar News
March 27, 2026 | 7:38 P.M.

Blackstone is closing out the first quarter with a pair of commercial mortgage-backed securities transactions, including a deal tied to its $2.3 billion, all-cash acquisition of Hawaii landlord Alexander & Baldwin.

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