Blackstone, $BX, has defaulted on a 531 million euro ($562.5 million) bond backed by a portfolio of offices and stores owned by Finnish company Sponda Oy, per Bloomberg.

"This debt relates to a small portion of the Sponda portfolio. We are disappointed that the Servicer has not advanced our proposal," Blackstone said in an emailed statement on Thursday.

"We continue to have full confidence in the core Sponda portfolio and its management team," the company added.

Blackstone blocked investor withdrawals from $71 billion REIT in February, per Reuters.

Meanwhile, Blackstone, $BX, Chief Executive Officer Steve Schwarzman took home $1.27 billion for 2022. This is a record for Wall Street. Last year, Blackstone’s shares delivered total losses of 40%, when accounting for dividends. By contrast, the S&P 500 delivered 18% total losses.