Colony Said to Win Foreclosed Homes Sold by Fannie Mae

Tom Barrack’s Colony Capital LLC, which plans to acquire $1.5 billion of rental homes within a year, was among the winners of about 2,500 foreclosed properties auctioned off by Fannie Mae, according to four people with knowledge of the sale.

Colony won all or part of portfolios of homes in Phoenix, Las Vegas and Southern California, said three of the people, who asked not to be identified because bidders signed confidentiality agreements and the transactions haven’t been completed. Cogsville Group LLC, a New York-based investment fund that has worked with Colony in the past, agreed to buy a portfolio of homes in Chicago, the people said.