Blackstone to Buy $1 Billion Worth (15,000 Homes) of Tampa Bay’s Foreclosures for Rentals

“It’s a land grab unlike anything we’ve ever seen, you’re going to drive through parts of town and all of it is going to be institutionally owned.”

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Blackstone to buy $1 billion worth of Tampa Bay homes for rentals

A Wall Street behemoth plans to spend $1 billion on Tampa Bay’s hobbled housing market, dispatching teams of brokers to scour neighborhoods and buy hundreds of homes a month.

But rather than resell the homes, the Blackstone Group is opting to become a landlord, renting the homes to tenants including foreclosed ex-homeowners burned by the housing crash.

Blackstone, one of the nation’s largest private-equity firms, plans to buy as many as 15,000 homes in Tampa Bay over the next three years, many of them foreclosures, capitalizing on decimated home prices and growing rents.

The shopping spree, and those of half a dozen other big investment firms and hedge funds, could radically change the local home landscape, as big-money brokers compete with first-time buyers and mom-and-pop landlords over homes in tight supply.

Rest here…

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4closureFraud.org

Comments
5 Responses to “Blackstone to Buy $1 Billion Worth (15,000 Homes) of Tampa Bay’s Foreclosures for Rentals”
  1. bobbi swann says:

    Micheal@4closurefraud – Question – have you or anybody else researched this “”Blackstone” group? My memory is not what it used to be but…something far back is telling me that Blackstone is connected somehow to a banking authority. I remember them out of Pasco County. Sunbiz has a lot of listings under that name. It looks like they were dissolved and then reinstated in 2008 and is that a coincidence? Along with everything else this really smells ‘fishy’.

  2. lvent says:

    How many times can the FED, and WALL STREET recycle insolvency before the American people are broke & homeless……? As long as the American people keep handing this insolvent institution AKA THE GOVT CORP…our wealth & property. We The People, need to restore the U.S. CONSTITUTION, ISSUE our own currency via State Banks..&…abolish Obamacare by vote…..We need a nationwide movement to take our money out..&…sue the FED…

  3. Granicus says:

    Here comes the next bubble. This is a sick joke. How are these wizards of finance going to manage all of these single family homes? Anyone who has ever managed rental property knows that collecting rent and maintaining property is not for the faint hearted. Thousands of single family homes spread over a large geographic area is not the same as running an apartment complex. This is the next Ponzi Scheme. When do we stop kicking the can?

  4. stripes says:

    This is the evil plan by these greedy, control freaks…..a rent a center of America…they are foreign IMPOSTERS who are stealing the wealth & property of the American people….. I blame Obama…

  5. Mystify says:

    What a travesty! You steal my home and then you want me to rent for more than my monthly mortgage is? What a crock! Why couldn’t congress just pass a bill to write down the mortgage to what the house is worth and homeowners would still be in their homes. Renter beware and don’t rent from black stone or the greedy will never learn a lesson!

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