The Real Deal Miami

New bond could fuel South Florida housing market

November 05, 2013 10:00AM

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Stephen Schwarzman

South Florida’s rising residential market could be further stimulated by a new bond funded by rental revenue from foreclosed properties.

New York-based private equity giant Blackstone Group launched a $479 million offering of the AAA-rated bonds last week. Blackstone and other large investment firms have spent more than $200 billion on distressed properties in South Florida and other United States markets over the last two years.

Residential observers say the institutional acquisitions are fueling sharp price increases in South Florida, Daily Business Review reported. If Blackstone’s bond sale goes smoothly, it could end up buying even more properties in the region at higher prices. [Daily Business Review]Eric Kalis

  • Carol

    I would like to see the values go up on my property. Thanks

    • Daniel

      Be careful what you wish for. And be extra careful when the smartest, most connected guys in the room start selling you, your city, and your pension something.

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