Blackstone to sell bonds backed by lease payments

Blackstone to Self-fund with Bond Sales. private-equity firm blackstone Group, which has spent 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.

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The Centuries-Old Debt That's Still Paying Interest 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.

The pass-through mortgage-backed security is the simplest MBS, structured as a trust, so that principal and interests payments are passed through to the investors. It comes with a specific maturity date, but the average life may be less than the stated maturity age.

Fannie Mae: Consumer spending growth to pick up in Q2  · Despite the slowdown in economic growth in the first quarter, Fannie Mae remained unchanged in its economic growth forecast, saying consumer spending is set to pick up in the second quarter. And while economic growth slowed in consumer.

Steve Schwarzman’s Blackstone Group LP 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.

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Now, the private-equity firm is planning to sell bonds backed by lease payments, which is a step in a new direction for the housing industry.

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In 2013, Blackstone partnered with Deutsche Bank to offer the first "single-family rental-backed security" to Wall Street investors, priced at $480 million. Since then, Wall Street firms have sold more than $9.8 billion of these bonds backed by rents for single-family homes.

Steve Schwarzman’s Blackstone Group LP 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.

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.

Steve Schwarzman’s Blackstone Group LP 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.