Goldman Sachs Acquires House Flipping Lender

October 16, 2017
Home flippers are not seeing the big bucks they had hoped for, according to ATTOM Data Solutions’ latest Home Flipping Report
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."