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Blackstone Cashes Out, Sells $1B Stake in Single-Family Rental Biz


Blackstone Group, a major player in the single-family rental business, has cashed out, selling off $1 billion of its shares in its suburban home rental company Invitation Homes.

And they did so as Invitation shares are trading at all-time highs.

Blackstone founded Invitation Homes following the Great Recession, and currently manages 80,000 properties in 17 markets around the United States. It took the company public in 2017 at $20 per share. Shares were trading last week around $25.70.

The selloff is by no means an indication of a slowing single-family rental market.

Smaller SFR investors have also gotten into the single-family rental game and overall, investment in this market is still strong. In fact Amherst Residential has spent $404 million on 2,400 homes since October and plans to buy another 10,000 homes this year.

Read on at:

https://therealdeal.com/national/2019/05/30/blackstone-sells-1b-stake-in-single-family-rental-business-amid-high-pricing

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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