Blackstone Group dove deep into the Sacramento home market between 2011 and 2013, buying more than 1,000 single-family homes for about $189 million. Now, the company is scooping them up again, which might be a sign of a booming home market in Sacramento, Calif.
Sacramental Business Journal's Ben van der Meer takes a look at the phenomenon and investigates the reason behind Blackstone's moves. The author writes,
"Asked about its Sacramento strategy, Blackstone issued a statement noting that its subsidiary Invitation Homes is committed to Northern California and providing housing options here. But an analyst who follows the company said buying single-family homes is a departure from the firm’s real estate strategy of late."
Head over to Sacramento Business Journal for more details.