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Blackstone’s Big Bet On Rental Homes
Posted By Barry Ritholtz On December 22, 2013 @ 12:00 pm In Real Estate,Venture Capital | Comments Disabled
The Blackstone Group LP, the world’s largest private equity firm, became the largest owner of rental homes in the U.S. , acquiring 41,000 homes in the past two years. In October, Blackstone offered the first-ever “rental-home-backed” security on Wall Street. The bond is backed by just a fraction — 3,207 — of the rental properties owned by Blackstone. Monthly rent checks from the properties will be used to service the $479.1 million security.
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Source: Bloomberg 
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 Bloomberg: http://www.bloomberg.com/infographics/2013-12-20/blackstones-big-bet-on-rental-homes.html
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