Deals

Starwood to Buy 2,300 U.S. Rental Houses in Suburban Push

Firm agrees to pay more than $1 billion for Pretium portfolio
Housing boom continues to drive investor demand for rentals

Homes in Nevada. — Homes in Nevada.
Photographer: Roger Kisby/Bloomberg

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By Patrick Clark and Gillian Tan

November 24, 2021 at 2:50 PM EST

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Starwood Capital Group is acquiring 2,300 single-family rental homes from Pretium Partners, increasing its bet on U.S. suburban real estate.

Starwood, led by Barry Sternlicht, has agreed to pay more than $1 billion for the portfolio, according to people with the knowledge of the transaction, which has yet to close.

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Before it’s here, it’s on the Bloomberg Terminal