CMBS Blackstone Unit Is 1st to Term Out Loan Backing Rental Bond November 11, 2015 5:10 PM 2:22 Facebook Twitter LinkedIn Email Invitation Homes extended a loan backing the first single-family rental securitization. As the loans behind 21 other SFR deals come due, they will need to be termed out or refinanced. Some say this could prove a challenge as interest rates rise.