Steve Schwarzman’s Blackstone Group LP (BX) has spent $7.5 billion acquiring 40,000 houses in the past two years to create the largest single-family rental business in the U.S. The private-equity firm is now planning to sell bonds backed by lease payments, the latest step in turning a small business into a mature industry.
Blackstone is preparing to sell $500 million in rent-backed securities. These bonds will be similar to mortgage-backed securities, which played the leading role in the financial crisis.
October 30, 2013 Blackstone to Self-fund with bond sales. private-equity firm Blackstone Group, which has spent $20 billion acquiring some 200,000 single-family homes that it turned into rentals, is preparing to sell lease payment-backed bonds, Bloomberg reported Oct. 23.
The mortgages are then sold on as securitized bonds, now at a much. are paid off using tenants monthly rental checks rather than mortgage payments.. they are now backing Blackstone to turn them into securitized bonds and cash. In most of the US rent control doesn't apply to single family homes so.
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Blackstone Group LP, which has the largest single-family rental business in the nation, is planning to sell bonds backed by lease payments to take advantage of rebounding home prices and a rising.
This month cdfa examines lease/appropriation-backed bonds, which include Lease Revenue Bonds and Certificates of Participation. Many states use these obligations to finance capital needs. They are an attractive alternative to general obligation bonds that require the approval of voters at a referendum.
It assigns a stable outlook to the county’s bonds. The AA-plus ratings on the lease revenue debt are one notch lower than the issuer rating, reflecting the slightly “increased optionality associated.
MBA: Rising rental costs may drive home sales up “That’s just the market out there, whether home sales. rent has to be to support those build-out costs. I think that as we continue to put new stock in, those prices will continue to creep up, at.
Updated Oct. 31, 2013 7:00 p.m. ET. Blackstone Group LP is selling the first bond backed by rental income from single-family homes, highlighting the role of large investors in the U.S. housing recovery. Bond buyers are evaluating a $479 million offering of securities by Blackstone’s single-family home-rental business, Invitation Homes LP.
Blackstone, Deutsche Bank in Talks to Sell Bond Backed by Home Rentals. The bond comprised of the Blackstone homes would be structured and marketed to investors by Deutsche Bank AG , the people say. The creation of a new type of security shows that Wall Street’s financial engineering,