The Ticker
Foreclosures fuel Blackstone, Two Harbors
1/23/13 3:12pm
As the housing crisis worsened, foreclosed properties littered the landscape.
Last year, however, large investor groups began purchasing distressed single-family homes in bulk, then sprucing them up in order to ready them for the rental market. One of the biggest players in this new market is Blackstone Group ($22.65 0.4%), which shelled out over $2.5 billion last year to buy 16,000 dwellings to add to its rental portfolio.
