Blackstone Inks $150M Land-Banking Deal With Beazer Homes

Law360, New York (March 27, 2013, 4:00 PM EDT) -- The credit arm of private equity giant The Blackstone Group LP will make up to $150 million available to Georgia residential real estate developer Beazer Homes USA Inc. as part of a long-term land-banking arrangement, the companies announced Wednesday.

Funds managed by Blackstone credit division GSO Capital Partners LP will make the funds available to purchase parcels of land identified by Beazer as prime development opportunities. Under the land-banking arrangement, GSO Capital will option finished residential lots to Beazer, the companies said.

"I’m very pleased that...
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