Thursday, March 14, 2013

Blackstone has expanded its credit line to buy single-family homes to $2.1 billion from $600 million, the Bloomberg news service reports. "The deal demonstrates that the market for these types of loans is expanding and maturing as major Wall Street banks become more and more comfortable with the asset class," Stephen Blevit, an attorney for Sidley Austin LLP who represented Deutsche Bank (the head lender in the deal), said in an e-mail to Bloomberg. To date, Blackstone has spent $3.5 billion on 20,000 single-family homes since last year, making it the largest homeowner in the U.S.

No comments: