Buyout 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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