Regardless of the season, decks have become an extension of the home. Many homeowners want to expand the footprint of their entertainment space by allowing the home to flow out onto the deck.
Private-equity fund snaps up foreclosures to turn into rentals
A private-equity fund that generated big profits by buying up empty data centers after the technology-stock bust in 2000 is now gambling on foreclosed homes.
A private-equity fund that generated big profits by buying up empty data centers after the technology-stock bust in 2000 is now gambling on foreclosed homes, according to the Wall Street Journal.
The fund, GI Partners in Menlo Park, Calif., announced a $250 million investment in Waypoint Real Estate Group, an Oakland-based company that buys foreclosed homes at discounts and rents them out to tenants. The investment is among the largest to date by an institutional investor in the single-family rental space.
Richard Magnuson, managing director of GI Partners, said the private-equity fund could eventually expand its investment to $1 billion over the next two years if the initial round is successful.
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