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GSO Capital Partners forges USD 150m deal with Beazer Homes

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Mar 28, 2013 (M2 Banking & Credit News via COMTEX) -- 28 March 2013 -- Atlanta, USA-based homebuilder Beazer Homes USA Inc (NYSE:BZH) and New York-based alternative asset manager Blackstone Group's (NYSE:BX) GSO Capital Partners LP credit arm said that GSO will make available up to USD 150m as part of a land banking arrangement.

According to Blackstone, funds managed by GSO will acquire new land parcels identified by Beazer Homes and option finished lots on a pre-determined takedown schedule to the company.

Beazer Homes offers homes in 16 states, including Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.

GSO Capital, together with its affiliates, has approximately USD 55bn of assets currently under management.

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