Wall Street businesses are more enthusiastic about buying family homes than ever before. They run the risk of killing their latest Golden Goose if they surge existing supplies rather than helping them build new homes.
Last week, Blackstone Real Estate Investment Trust purchased a portfolio of apartments from insurer American International Group for $ 5.1 billion. In June, the investment company spent $ 6 billion on the Home Partners of America, which owns more than 17,000 homes nationwide and offers lessors purchasing options. Bloomberg reported that private equity giant KKR has launched a new division to buy and rent homes.
Meanwhile, in Europe, real estate investors are increasing their share of the portfolio of investing in residential real estate, and German landlord Vonovia recently launched a € 18 billion acquisition of competitor Deutsche Wohnen. That’s $ 21.2 billion. Click to read more at www.texasnewstoday.com.