Goldman Sachs Acquires House Flipping Lender

Oct 16, 2017

When it comes to buying and selling real estate owned (REO) properties, Huntsville, Ala., leads the nation for flipping this particular property, according to data from the online real estate marketing platform Hubzu

Goldman Sachs Group Inc. has announced plans to buy Los Angeles-based Genesis Capital LLC, which provides funds for developers seeking to purchase, renovate and flip single-family homes.

Genesis was launched in 2007 and is being acquired from funds managed by Oaktree Capital Management LP. Terms of the acquisition were not disclosed.

"Our new partnership is a validation of the platform we have worked tirelessly to build and the strong relationships we have developed with a loyal customer base," said Robert Wasmund, Co-CEO of Genesis Capital. "We look forward to working with the Goldman Sachs team in our next stage of development."

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Phil Hall

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Oct 16, 2017

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