Wall Street investors form South Florida trade group

Blackstone's Invitation Homes, Colony Capital confer on new business model

Apr.April 16, 2014 05:15 PM

Property investors reportedly launched a trade group to represent Palm Beach County’s growing coalition of Wall Street homebuyers.

A spinoff of the Washington, D.C.-based National Rental Home Council will educate and give nonpartisan advise on renting out single-family homes on a corporate scale — a relatively new business model in the area, the Palm Beach Post reported.

Some of its founding members include Colony Capital, Starwood Waypoint Residential Trust, American Homes 4 Rent and a subsidiary of the Blackstone Group called Invitation Homes. Invitation has about 150 employees in its Plantation office and more than 1,000 properties in Palm Beach County.

“There hasn’t been anything like this done before,” Invitation chief marketing officer Andrew Gallina told the Post. “The council was a natural extension of what was happening.”

However, some investors suspect the firms are just trying to improve their public relations through the trade group. [Palm Beach Post]Angela Hunt

Related Articles

Daily Digest Miami

How Epstein hid ownership of second island, CK Holding Group buys Miramar retail: Daily digest

Blackstone CEO Stephen A. Schwarzman and 5120 Northwest 165 Street

Blackstone buys two Miami Gardens industrial properties for $14M

3208 Northwest 72 Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps and Getty Images)

Blackstone buys industrial portfolio near Miami airport for $56M

Anne Gannon and West Palm Beach (Credit: iStock and Airbnb)

Airbnb sues Palm Beach County … again

Blackstone CEO Stephen A. Schwarzman and Southwest 13th Court (Credit: Google Maps)

Blackstone snags industrial site in Pompano Beach for $10M

Blackstone CEO Stephen A. Schwarzman, the Exchange Lofts apartments at 115 Northeast Third Avenue in Fort Lauderdale

Blackstone sells the Exchange Lofts in downtown Fort Lauderdale for $23M

Southern Palm Crossing with Blackstone president Jon Gray and InvenTrust Properties CEO Thomas P. McGuinness

Blackstone sells Costco-anchored shops to InvenTrust for $97M

Stephen A. Schwarzman and 8482 Northwest 96th Street (Credit: Google Maps)

Blackstone buys 9-acre industrial site in Medley