Wednesday, May 16, 2012
More Entries Into Home Rental
The Wall Street Journal's Developments Blog had a post today on Colony Capital's push into the mass home rental market. Sounds like Colony is going about the business the right way. It's buying properties at cap rates of 7% to 9%, and has brought the property management in-house. The exit strategy is still fuzzy to me - liquidation is still one home at a time - but owning the homes in a REIT gives a sense of permanence.