In an October 2013 article we noted how Blackstone Group had become the largest owner of rental homes in the U.S.! In fact at the time, the worlds largest private equity firm had offered Wall Street’s first ‘rental-backed security’. Well now Blackstone had made another large purchase of U.S. rental property (10,399 multifamily units) signaling that, in this company’s […]
Development rights, aka air rights, are an extremely valuable commodity on the New York City real estate scene! And it’s the fact that Stuyvesant Town possesses over 700,000 square feet of development rights that some feel helps to explain why Blackstone Group, as part of its deal to purchase this iconic property, was willing to […]
Question: What happens to housing when these investor’s are no longer buying? ‘The Blackstone Group LP, the world’s largest private equity firm, became the largest owner of rental homes in the U.S., acquiring 41,000 homes in the past two years. In October, Blackstone offered the first-ever “rental-home-backed” security on Wall Street. The bond is backed […]
