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Non-Tech : Investing in Real Estate - Creative Opportunities

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To: Jim McMannis who wrote (1466)	3/26/2013 12:29:32 PM
From: Road Walker	Read Replies (1) of 2722

Yes, but had no clue of the extent, locally. Guess I'm not in tune with the market. • Blackstone subsidiary Invitation Homes, which since first buying here in August has spent an average of more than $800,000 a day. The local shopping spree is part of its "bet on America," a $100-million-a-week gorge that has made the firm the "largest owner of individual houses" in the country, CEO Stephen Schwarzman said this month. • Silver Bay Realty Trust, a public Minnesota trust, which spent $40 million buying 400 homes, adding to hundreds more it already owned. • American Homes 4 Rent, a Malibu firm led by the billionaire founder of Public Storage and backed by hundreds of millions of Alaskan oil dollars. It spent $80 million on 500 homes. • Fundamental REO, a New York fund led by former Goldman Sachs executive and subprime-mortgage mastermind Donald Mullen. The fund dropped $10 million on 90 Tampa Bay homes. • American Home Real Estate Investment Trust in Atlanta, led by a CEO who began buying foreclosures from his living room, which paid $8 million for more than 100 homes.

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