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Blackstone launches landlord lending unit amid US housing market uptick

8 Jul 2013

real estate_lrgBuyout major Blackstone has reportedly launched a new division offering loans to landlords to take advantage of the US housing market recovery.

The New York-based firm, which owns more rental homes than any other investor after spending $5bn on more than 30,000 distressed houses, has launched B2R Finance LP to offer loans of at least $10m, said Bloomberg, citing four people who reviewed the terms.

B2R targets landlords focused on for single-family homes to rent and at least five rental companies have received non-binding term sheets, according to the sources.

The firm is led by former CEO of mortgage originator EquiFirst Jeffrey Tennyson.

Last week it was reported that Blackstone-backed Emcure Pharmaceuticals was planning to raise INR6bn ($101.6 m) in a public listing.

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