Wall Street Lending Rises For Private Equity Rentals: Mortgages

Wall Street is ramping up financing to private-equity firms buying homes to rent, helping them accelerate purchases as competition increases and prices jump.

Deutsche Bank AG arranged a $1.5 billion credit line for Blackstone Group LP to buy single-family properties last week, after providing $2.1 billion to the firm earlier this year, according to three people with knowledge of the deal, who asked not to be identified because the loan is private. Leon Black’s Apollo Global Management LLC and Tricon Capital Group Inc., a Toronto-based real investment firm, also obtained loans for rental-home purchases this month from the Frankfurt-based bank.