Recovery? What recovery? Real Estate stabilization? What stabilization?
Perhaps when you’re about to buy $20 billion and as many as 200,000 homes.
Why are they willing to buy when they KNOW FOR A FACT that many of these homes have title defects due to fraudulent documents?
Mark my words… there is trouble on the horizon with these.
Bloomberg-
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 now planning to sell bonds backed by lease payments, the latest step in turning a small business into a mature industry.
Deutsche Bank AG may start marketing almost $500 million of the securities as soon as this week, according to a person with knowledge of the transaction. The debt will include a portion with an investment grade from at least one ratings company, according to two separate people, who asked not to be identified because the deal isn’t public.
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