Goldman Sachs buys US fix-and-flip mortgage company
Goldman Sachs has bought Genesis Capital, a US mortgage firm that finances residential real estate development loans, as a long period of house price increases drives loan origination in that sector prompting expectations of more securitization activity.
Goldman Sachs has signed an agreement to buy Genesis from funds managed by Oaktree Capital Management, according to a notice on the company’s website on Thursday. The terms of the transaction have not been disclosed.
The company specializes in providing financing solutions to professional real estate developers
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