Institutional investors look to cash out of South Florida rentals

Miami /
Dec.December 22, 2014 10:30 AM

When South Florida’s market hit rock bottom, institutional investors pounced, buying as many foreclosed and short sale homes as possible.

From January 2012 through August 2014 major institutional investors purchased 12,952 single-family homes, a study showed. That made South Florida No. 2 in the U.S. in purchases. Now, these investors are the biggest sellers in the area.

Even though institutional investors have been turning sizable profits renting out homes, rising home values have boosted home equity by 31 percent — a combined $611 million. That boost has given these investors more incentive to sell, according to RealtyTrac.

Selling has been slow, however.  Home purchases dropped dramatically in 2014 compared to 2013.

According to the report, the largest owners of South Florida homes are the Blackstone Group (735) and Colony American Homes (638). Their equity gains grew 10 percent and 27 percent, respectively. [South Florida Business Journal] — Kristina Puga


Related Articles

arrow_forward_ios
Medley Commerce Center in Medley, 15998 Walgreens Dr in Jupiter, 4281 & 4341 W 108th St in Hialeah, 3701 Flamingo Rd, 2601 & 2701 SW 145th Ave in Broward and 11801 NW 102nd Ave in Medley (Google Maps, Getty)
Here are South Florida’s biggest industrial sales of 2022
Here are South Florida’s biggest industrial sales of 2022
Blackstone’s Stephen Schwarzman and the Hampton Inn hotel at 5701 Madison Avenue (Google Maps, Getty)
Blackstone sells Tamarac Hampton Inn for $18M
Blackstone sells Tamarac Hampton Inn for $18M
G6 Hospitality CEO Rob Palleschi and the Motel 6 at 825 East Dania Beach Boulevard (LinkedIn, Google Maps)
Blackstone sells five South Florida budget hotels for $61M
Blackstone sells five South Florida budget hotels for $61M
Link Logistics' Luke Petherbridge with 115.7-acre site at 21001 Northwest 27th Avenue (LinkedIn, Google Maps)
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
Link Logistics' Luke Petherbridge (Link Logistics, Calder Casino, iStock)
Take two: Blackstone affiliate proposes industrial complex with movie studio at Calder’s horse racing track
Take two: Blackstone affiliate proposes industrial complex with movie studio at Calder’s horse racing track
 Rendering of Nema Miami with Russell Galbut and Bruce Menin (Crescent Heights)
Russell Galbut’s Crescent Heights scores $224M loan for Whole Foods-anchored Edgewater project
Russell Galbut’s Crescent Heights scores $224M loan for Whole Foods-anchored Edgewater project
2445 South Ocean Boulevard (Ed Butera/IBI Designs, iStock)
Hedge funder drops record $35M for oceanfront Highland Beach estate
Hedge funder drops record $35M for oceanfront Highland Beach estate
The Mangrove Bay assisted living facility at 110 Mangrove Bay Way in Jupiter (Senior Lifestyle, iStock)
Blackstone sells waterfront assisted living facility in Jupiter at a loss for $41M
Blackstone sells waterfront assisted living facility in Jupiter at a loss for $41M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...