Term Sheet: PERE America’s credit sentiment; Blue Owl’s tactical sweep; Blackstone’s CMBS charge-up

The next real estate credit cycle is approaching and attendees at the PERE Network America Forum signaled high gear shifts in preparation; Blue Owl has sights on DC retirement plan investors as its credit platform continues to grow its reach; Blackstone secures a $1.6bn CMBS and mezzanine package to refinance a 94-property swath of its US industrial portfolio; and more in today’s Term Sheet, exclusively for our valued subscribers.