B2R Finance, the buy-to-rent lender controlled by private equity giant Blackstone Group, named Jason Hogg as its first chief executive officer, a newly created position. the company said in a press release.
Previously, B2R was led by its president, John Beacham, who remains in this position.
Hogg has nearly 20 years of experience in entrepreneurial and leadership roles, according to a company press release. He founded the alternative payment company Revolution Money, a scalable, global platform that supports a number of businesses including Bluebird by American Express and Walmart, as well as American Express Serve. Previously he served in a number of top leadership positions, including president of American Express Serve Enterprise, chief operating officer of Medsite, and chief business development officer for MBNA Canada.
Hogg will provide strategic direction to support B2R’s expansion, building out a platform of products and services that meet the demands of residential investors.
B2R lends to landlords and rental-home owners who are looking to purchase between five and 1,000 properties, which includes single-family homes as well as two-to-four family homes, townhouses, condominiums and multifamily apartment buildings. The loans run from $5 million to $50 million and have five-year floating-rate or fixed-rate or 10-year fixed-rate terms. The firm has yet to securitize these loans, although its sister company, single-family rental operator Invitation Homes, has completed several deals backed by rental income from its properties.
Last month, B2R announced that it had hired Evan Lorch as chief financial officer. Lorch left the same position at data firm CoreOne Technology.