Cerberus Capital Management is buying about 4,200 U.S. houses, expanding its foray into home rentals in the industry’s largest bulk purchase.
The investment firm plans to acquire the properties from BLT Homes, a rental company owned by closely held Building & Land Technology, according to three people with knowledge of the transaction. The houses are mostly in Midwest cities such as Indianapolis and Chicago, as well as in Florida, said the people, who asked not to be named because the deal is private.
