NEW YORK CITY-Blackstone Group LP, which has invested $5 billion in the distressed homes market, has established a new unit—B2R Finance LP—that will offer financing starting at $10 million to landlords in the up and coming arena of single-family home rentals.
Blackstone has previously spent $5 billion on more than 30,000 distressed homes nationwide. Last month, the New York City-based private equity firm stated it was entering the later stages of its investment that has led a group of institutional investors that have spent more than $17 billion on more than 100,000 distressed homes in the past two years, according to a Bloomberg News report.
Goldman Sachs Group Inc. estimates the single-family home rental market to be a $2.8-trillion industry. Jeffrey Tennyson, the former CEO of EquiFirst Corp., is running the new B2R unit. See story at Bloomberg News.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
