- Pricing on all but the deal's top tranche is reportedly 15-50 basis points wider than the whispers, but the AAA piece is in line in the area of Libor +100 bps.
- Blackstone's (BX) Invitation Homes launched the first-ever rental payment securitization late last year, and it's since been followed by one from American Homes 4 Rent.
- It was at first thought the securitization process would offer a cheap source of capital for institutional types to keep up their fast pace of single-family purchases, but for Blackstone, American Homes 4 Rent, and Colony American Homes - to name three - have slowed down considerably. "The institutional wave has passed," said the firm's global head of real estate Jon Gray two months ago.
at CNBC.com (Nov 18, 2014)