Blackstone to Buy Interior Logic for $1.6 Billion in Housing Bet Interior Logic is an interior design technology provider that also offers supply chain and installation management services to homebuilders. Bloomberg | Feb 02, 2021
(Bloomberg) Blackstone Group Inc. is buying Interior Logic Group Inc. for about $1.6 billion including debt, preempting the company’s initial public offering and bolstering a bet on single-family housing.
Private equity funds managed by Blackstone are acquiring the interior-design technology provider from a group including Littlejohn & Co. and Platinum Equity, according to an emailed statement Monday. Last month, Interior Logic applied to list on the Nasdaq under the ticker “ILG.”
Blackstone to buy Interior Logic for US$1.6 Billion in housing bet
Melissa Karsh, Bloomberg News VIDEO SIGN OUT
Blackstone Group Inc. is buying Interior Logic Group Inc. for about US$1.6 billion including debt, preempting the companyâs initial public offering and bolstering a bet on single-family housing.
Private equity funds managed by Blackstone are acquiring the interior-design technology provider from a group including Littlejohn & Co. and Platinum Equity, according to an emailed statement Monday. Last month, Interior Logic applied to list on the Nasdaq under the ticker âILG.â
Interior Logic also provides supply-chain and installation-management services to homebuilders. The Irvine, California-based company operates in 37 states. Blackstone hopes to expand the companyâs geographic reach and enhance its technology, said Seth Meisel, a senior managing director with the firm.
and last updated 2021-01-16 11:24:04-05
AURORA, Colo. â A home at the perfect price point and location felt too good to be true, and one woman discovered it was. Sheâs now warning people about the rental scam that could have left her on the streets.
For more than a month, Christina Cimino has been on the hunt for the perfect home for her family of four. And when she least expected, she stumbled upon a three-bedroom home in Aurora near Mission Viejo Park on Facebook Marketplace listed at $1,250 a month.
âThey had a whole listing, specifications of the house, square footage, everything just like a regular ad you would see for a rental,â Cimino said.
FAIRFIELD-SUISUN, CALIFORNIA
Wall Street and corporate flippers see opportunity in buying up single-family houses, but a viable business model has eluded them. (Dreamstime/TNS)
Neal Templin: Will home buyers have to outbid institutional money?
Neal Templin, Rate.com
Coming out of the financial collapse a decade ago, when home foreclosures hit record numbers, Wall Street began buying up hundreds of thousands of single-family homes (SFH). Institutional money had long ago come to dominate ownership of U.S. apartments, but the SFH, which accounts for the great bulk of the more than $30 trillion in housing value in the country, hadn’t before drawn this level of interest.
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From left: Lionheart’s Ophir Sternberg, Fifth Wall’s Brendan Wallace, Chamath Palihapitiya, Supernova Partners’ Spencer Rascoff and Proptech Acquisition II’s Tom Hennessy (Getty, LinkedIn, iStock)
It’s a good time to be a startup aspiring to go public.
Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they’ve invested $7.2 billion more.
More than a half-dozen of those entities, also known as special-purpose acquisition companies, are targeting proptech startups. The VC firm Fifth Wall Ventures was the latest to jump into the fray, and other big firms including CBRE and SoftBank have recently hopped on the SPAC bandwagon.