Rents for single-family homes are rising slower than property prices as firms such as Blackstone Group LP flood the market with homes for lease, posing risks to investors betting billions on the burgeoning market.
Mark Takano saw how subprime mortgages devastated his hometown of Riverside, California, after Wall Street helped inflate a housing bubble that burst and left a trail of foreclosures among the worst in the U.S.
Miramax intends to seek more film assets once investors led by Colony Capital LLC and construction executive Ronald Tutor complete their purchase of the Walt Disney Co. unit, a person with knowledge of the plans said.
Sebastien Bazin, Colony Capital LLC’s head of European investing, will take over as chairman and chief executive officer of Accor SA as the lodging company focuses on reducing the proportion of hotels it owns.
Tom Barrack’s Colony Capital LLC, which plans to acquire $1.5 billion of rental homes within a year, was among the winners of about 2,500 foreclosed properties auctioned off by Fannie Mae, according to four people with knowledge of the sale.