Tag Archives: Billionaire Goes on Home-Buying Spree

Billionaire B. Wayne Hughes is snatching up about 10,000 single-family homes to turn into rentals. Hughes has purchased the properties through his American Homes 4 Rent, which now makes the firm the second-biggest owner of single-family rentals (behind only Stephen Schwarzman’s Blackstone Group). Hughes incorporated American Homes 4 Rent last year as a non-public REIT to fund his venture into the single-family rental business. The American Homes 4 Rent is expecting about 6 percent to 7 percent return on the rents. Hughes’ firm is buying up mostly foreclosed properties at […]