Home > Blogs > Sharon Alters > Fleming Island Houses for Sale | Fleming Island Real Estate Agent

Blackstone Becomes a Lender

By Sharon Alters

Real Estate Agent with Coldwell Banker Vanguard Realty - 904-673-2308

July 17, 2013 12:54 PM

Blackstone is now branching out and has a lending arm for landlords wanting to get in on investment homes. Their loans will start at $10 million with landlords who have portfolios of homes to rent.

Blackstone, under the THR Holdings name, has purchased 289 homes in Duval County in 2012-2013.

Some think that this could be significent in helping the housing recovery in Northeast Florida, as our area is one that Blackstone has targeted. They have bought 100 homes in Clay County and 72 homes in St. Johns County as well.

Another significant investor in our market is American Homes 4 Rent, or AH4R, which owns about 200 homes combined in St. Johns and Clay Counties.

There have been over 3,600 homes sold in Clay County, 14,000 homes in Duval County and 5,000 homes sold in St. Johns County since January 2012.

Re-Blog

Comments(5)

Comment

Show All Comments

Sort:

Lloyd Binen

Certified Realty Services - Saratoga, CA

Silicon Valley Realtor since 1976; 408-373-4411

Sharon, that's interesting. Out here individual investors (not companies) put a floor under our falling prices in 2008-09 when REOs were listed for 50% of the last sale price. Individual investors couldn't resist and paid cash for long-term rentals. That stopped the bleeding pretty quickly and put a floor under the market. The mid and high end home prices giggled around like jello for a couple years, but the floor was firm. My guess is the same thing will happen in your market. But I don't really have a clue about the Florida market and have never even been there.

Jul 17, 2013 02:03 PM

Sharon Alters

Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL

Realtor - Homes for Sale Fleming Island FL

Lloyd, the Florida market is in a recovery. In Jacksonville, we have a 4.4 month inventory with multiple offers. Our market did not stabliize as quickly as yours, but prices have risen 18.4% over last year. Some of that is due to luxury homes and waterfront homes finally selling, but prices are also up in regular neighborhoods as well. The institutional guys are contributing to the rise in price because they pay cash and pay above list price if they like the property.

Jul 17, 2013 02:50 PM

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Sharon Blackstone has some sharp brains and financial support... after all they are not accidentally one of the largest private equity firms in the world...

Jul 17, 2013 05:01 PM

Joe Petrowsky

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT

Your Mortgage Consultant for Life

I have been working with a National company that is offering to sell their homes to the tenant in these properties. They have done very well and it has been great working with them, as they are pretty savvy investors.

Jul 17, 2013 06:01 PM

Endre, they are tapping into a market that is brisk for sure. Yes, they are a sharp group and are buying a select group of good houses.

Joe, now that is a magnificent idea to help people back into a home and keep stability for their families.

Jul 17, 2013 11:17 PM

Blackstone Becomes a Lender

Comments(5)

Sharon Alters

Service Areas

Real Estate Resources

Recent Posts

Additional Information