Blackstone Eyes CMBS for £2 Billion UK Holiday Parks Financing

Blackstone Inc. is in talks to issue one of Europe’s largest commercial mortgage-backed securitizations as part of a deal to refinance Haven, its UK holiday parks operator.

The private equity firm is currently sounding out investors about a CMBS transaction that could exceed £1.5 billion ($2 billion), according to two people with knowledge of the matter. The deal would make up the bulk of a £2 billion-plus refinancing package, a third person said, with some of the proceeds earmarked for capital expenditure and reinvestment.