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Blackstone Group is cashing in on its bet on the suburban rental class.
The private-equity firm late Tuesday sold more than $1 billion of shares of Invitation Homes Inc., the giant single-family home landlord it launched following the financial crisis in a wager that many Americans would be willing to rent the suburban lifestyle they could no longer afford to own.
— Wall Street Journal
In the two years since private-equity firm Blackstone Group launched its suburban home management service, Invitation Homes, the company's stock has gone up by over 26%. During that same time, homeownership has fallen to its lowest levels since the mid-1990s, rents have edged upward in the... View full entry
