Cerberus Capital Management is reportedly set to buy 4,200 rental homes situated throughout the U.S. in one fell swoop. The transaction is believed to be the largest bulk purchase of homes in the history of the single-family rental business, according to a report from Bloomberg.
From the Bloomberg report:
The investment firm plans to acquire the properties from BLT Homes, a rental company owned by closely held Building & Land Technology, according to three people with knowledge of the transaction. The houses are mostly in Midwest cities such as Indianapolis and Chicago, as well as in Florida, said the people, who asked not to be named because the deal is private.
The Bloomberg report also states that the purchase would make Cerberus one of the ten largest owners of U.S. houses.
