Wall Street Bets on Single-Family Rentals After Blackstone Exit
- Rental properties are attracting new types of investors
- Apartment owners, homebuilders jumping into the market
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Wall Street piled into the single-family rental business following the U.S. foreclosure crisis because houses were cheap. Now, investors are jumping in because houses are expensive.
Three months after Blackstone Group Inc. cashed out of the market with a roughly $7 billion profit, JPMorgan Chase & Co.’s asset management arm is joining sovereign wealth and pension funds in targeting a type of property once shunned by institutional investors.