Term Sheet: Nuveen’s $13.5bn Schroders acquisition; Blackstone’s Vegas stakes; Derby Lane’s office exchange

Real estate manager consolidation is kicking off this year as a ripple effect of Nuveen's $13.5 billion planned acquisition of Schroders; top-tier Las Vegas hospitality assets are getting another Blackstone-linked capital boost with a $3.05 billion CMBS refinancing inbound for the Cosmo; Derby Lane Partners has joined New York City’s office-to-residential financing wave with a $191.4 million loan for GFP Real Estate; and more in today’s Term Sheet, exclusively for our valued subscribers.