John Gittelsohn & Heather Perlberg, Bloomberg
The largest U.S. private real estate owner, accelerated purchases of single-family homes as prices jumped faster than it anticipated.
Blackstone has spent more than more than $2.5 billion on 16,000 homes to manage as rentals, deploying capital from the $13.3 billion fund it raised last year, said Jonathan Gray, global head of real estate for the world’s largest private equity firm. That’s up from $1 billion of homes owned in October, when Blackstone Chairman Stephen Schwarzman said the company was spending $100 million a week on houses.... more
Eagle Materials
by Zacks Equity Research
Shares of Eagle Materials have been rising consistently since the end of September 2011 and reached a 52-week high of $64.78 on January 7, 2013. The stock price has almost quadrupled since the September/October 2011 lows, when the housing market was fragile..... more
