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Corporates muscle in on US house-rental industry

A merger this week created a behemoth company with 82,000 homes across the country
Saturday, August 12, 2017 - 05:50

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Invitation Homes, majority-owned by Blackstone and already the largest company in the industry, had a $1.8 billion initial public offering in January; its shares have risen more than 8 per cent since.

Washington

IT was a simple phone call between two real estate billionaires that led to the formation of a behemoth in the house-rental industry. Property investor Barry Sternlicht called Jon Gray, head of real estate for Blackstone Group, in the spring, proposing a combination of Starwood

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