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Press release from Business Wire

Blackstone Establishes Single-Family Buy-to-Rent Lending Platform

Friday, November 15, 2013

Blackstone Establishes Single-Family Buy-to-Rent Lending Platform

10:11 EST Friday, November 15, 2013

NEW YORK (Business Wire) -- Blackstone today announced that funds managed by Blackstone Tactical Opportunities have established B2R Finance (“B2R”) to provideresidential buy-to-rent mortgages for property investors, focused exclusively on the financing needs of single-family home investors. B2R's products are tailored to serve investors with portfolios of five to five hundred homes nationwide.

Blackstone also announced the appointment of a senior management team composed of experienced real-estate finance executives from both the commercial and residential real-estate industry.

John Beacham, B2R's President, has more than 17 years of finance experience, most recently as joint head of single-family rental home finance at Deutsche Bank AG. Mr. Beacham has managed the origination of more than $5.0 billion in single-family rental financings in his career. Jeff Tennyson, B2R's Chief Operating Officer, has had a 20 year residential mortgage career, including 10 years as the Chief Executive Officer of EquiFirst, a large wholesale residential lender.

Jas Khaira of Blackstone Tactical Opportunities said, “We see a great opportunity to fund small-and -medium-sized investors in the single-family space to help them expand their portfolios. We are pleased to welcome the B2R team and look forward to building this business to support the growing single-family rental market.”

John Beacham, President of B2R Finance, said, “We saw a gap in the market where there was a lack of lending products for smaller investors looking to finance their single-family home portfolio. Few financing sources currently exist for this very significant pool of investors and B2R solves that problem.”

Jeff Tennyson, Chief Operating Officer of B2R added, “At B2R, we provide a range of products including fixed and floating rate options that are designed specifically to address the needs of this market and offer an efficient closing process.”

About Blackstone:

Blackstone is one of the world's leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds, and multi asset class exposures falling outside of other funds' mandates. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About B2R Finance:

B2R Finance, America's Buy to Rent Lender, is the leading provider of residential buy to rent mortgages for property investors. The company offers cost effective and innovative lending solutions dedicated to residential rental property investors. We operate in partnership with the nation's leading commercial and residential real estate experts to ensure that our loan products and customer service are in the forefront of the growing residential rental investment market. Whether you own five properties or five hundred, B2R can assist you with a variety of lending products to enhance your investment. Further information is available at www.b2rfinance.com. Follow us on twitter @B2RFinance.

Blackstone
Oriane Schwartzman
+1-212-390-2250
oriane.schwartzman@blackstone.com

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