Wall Street Snaps Up Cheap Single-Family Rentals
- Cheaper properties seen generating better yield as prices rise
- Promise Homes, backed by Ares founders, buys from Invitation
Source: Promise Homes
This article is for subscribers only.
For Invitation Homes Inc., the U.S. landlord built by Blackstone Group LP, the 220 houses it owned in working-class areas around Atlanta were outliers, filled primarily with low-income tenants paying rents well below those at its other properties.
For another company with big private equity ties, the homes were an opportunity.