Tom Barrack’s Colony Capital LLC is teaming with two other single-family rental-home landlords to offer as much as $1 billion in loans to similar operators this year, said three people with knowledge of the agreement.
It was a good day for Mike Yane, a history teacher in Huber Heights, Ohio. A December storm covered the modest Dayton suburb in snow, and Wayne High School opened two hours late. His students who walk to class could use the extra time.
Institutional landlords building home-rental businesses in the U.S. have yet to figure out the best way to sell their investments as they focus on expansion, said Thomas Barrack Jr., the head of Colony Capital LLC.