Just when you thought WF couldn't get no bigger - REO Property Preservation Forum
 
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post #1 of 6 (permalink) Old 04-14-2015, 11:55 AM Thread Starter
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Just when you thought WF couldn't get no bigger

Blackstone Group LP and Wells Fargo & Co. are nearing a deal to buy a real estate portfolio from General Electric Co. worth as much as $30 billion, according to a person with knowledge of the matter.

An agreement may be announced as soon as tomorrow, said the person, who requested anonymity because discussions were continuing. Representatives for GE, Wells Fargo and Blackstone declined to comment.


GE is taking advantage of robust demand for commercial real estate as prices surge past the prior boom in 2007, which was symbolized by Blackstone’s buyout of Equity Office Properties Trust for $39 billion. U.S. commercial values have since reached records as investors from around the globe seek places to put money at a time of near-zero interest rates.


So blackStone wants the Commercial Division and WF wants residential properties and some commercial.



As of now, before the GE buyout WF under rights 60% of all home loans in the U.S.
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post #2 of 6 (permalink) Old 04-14-2015, 02:13 PM
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Great more BATF that won't pay.
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post #3 of 6 (permalink) Old 04-14-2015, 02:42 PM
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Great more BATF that won't pay.
All my BATF pay well. Bring it on!
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post #4 of 6 (permalink) Old 04-14-2015, 10:21 PM
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Great more BATF that won't pay.
All of mine pay and pay well.
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post #5 of 6 (permalink) Old 04-14-2015, 11:03 PM
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Don't get your panties in a bunch Blackstone (BMI) is commercial and has been buying a few Billion $$ of residential properties with WF alliances but all the props I have seen is complete Realtor controlled ( Great for us). No Service Companies. Just bid repairs on 1 house at $225,000 and was told to be ready to start 5-1-15.
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post #6 of 6 (permalink) Old 04-15-2015, 09:32 AM
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We struggle with BATF no matter who it is with. We charge a premium and that may be why? I'm also not fond of spending more time in front of the computer justifying my price than it took to do the job.
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