Term Sheet: Blackstone’s Vegas high roll; CREFC and NCREIF’s index launch; UIG’s Jersey deal sequel

A Realty Income preferred equity stake and roughly $3 billion CMBS loan have been lined up by Blackstone to refinance a pair of 2021-acquired Las Vegas hotels; CREFC and NCREIF add another layer of debt fund transparency for the commercial real estate sector with an index launch; Urban Investment Group goes back-to-back in New Jersey with another development deal locked in; and more in today’s Term Sheet, exclusively for our valued subscribers.