Blackstone, DB Sell $479M of Rental Home-Backed Bonds

Blackstone, DB Sell $479M of Rental Home-Backed Bonds

Blackstone Group LP's debut sale of bondsbacked by rental homes is paving the way for Cerberus Capital Management LP and Colony Capital LLC as Wall Street creates a new market to expand funding for the industry. Deutsche Bank AG unveiled the $479 million deal, which bundles mortgages on 3,207 s...

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Veröffentlicht in:National Mortgage News 2013-11, Vol.38 (8), p.24
1. Verfasser: Bloomberg News
Format: Artikel
Sprache:eng
Schlagworte:
Banking industry
Bond issues
Bond ratings
Chief executive officers
Financial analysis
Financial services
Germany
Hotels and motels
Investment advisers
Investment companies
Mortgages
News agencies
Private equity
Real estate
Real estate industry
Rentals
Securities
Securities industry
Securitization
Single family
United States
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Zusammenfassung:Blackstone Group LP's debut sale of bondsbacked by rental homes is paving the way for Cerberus Capital Management LP and Colony Capital LLC as Wall Street creates a new market to expand funding for the industry. Deutsche Bank AG unveiled the $479 million deal, which bundles mortgages on 3,207 single-family homes acquired by Blackstone into securities of varying risk, at the Waldorf Astoria hotel in New York yesterday, after spending more than six months structuring the transaction.
ISSN:1050-3331