Bloomberg: Blackstone rental home bonds have highest LTV

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Among investors’ main concerns was that Blackstone did not have. so high, in fact, that they looked at national home-price indices and in some cases applied a cap to the amount of HPA they would.

Colony American Homes 2014-2, a securitization of revenues from single-family homes Colony bought in recent years, will have a total issuance of $558.5 million, according to Morningstar. More than half the offering will be rated AAA and the LTV is 70 percent, the Morningstar report shows.

Bloomberg: Blackstone rental home bonds have highest LTV Beverly 0 Comments Contents real estate grand bond.. reflecting estimated current home values Lender processing services 5.32 billion. american modify current loans . of the marquee monthly jobs report for June, with several

Invitation Homes is the leading provider of single-family homes for rent in 13 markets across the U.S. Blackstone created a leading single-family home rental platform in 13 metropolitan markets across the U.S. The platform creates jobs and provides high quality, affordable housing for families nationwide.

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Issuers of securities tied to U.S. rental homes. high-severity risk” for those structures, which some potential issuers have approached Moody’s about using, Yehudah Forster, a senior credit officer.

The offering would be the fourth of rental-home bonds, following American Homes 4 Rent’s $482.7 million bond deal this month, Colony American Homes’ sale of $513.6 million of the debt in April and.

New securities backed by U.S. rental homes don’t meet the criteria for the highest credit grade, Standard & Poor’s said, going against at least three rivals. Currently Reading S&P: Too soon to.

Blackstone-Led Group Said to Drop Fidelity National Bid: Video Blackstone securitized the rental income stream on these 3,207 rental homes (spread across 5 different states) for a total of $479.1M. This means that they offered new debt to bond investors that is collateralized with the rental income stream on those properties.

Investors show concern over Blackstone home-rental bond. The credit performance of loans is correlated to the capital that the sponsor, Blackstone, has at risk, and investors would have preferred that the sponsor had more equity at risk. Blackstone has between 5% to 10% equity in the deal, Kroll told IFR, although Blackstone would argue that it has 25% equity, based on the 75% LTV number, analysts said.

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