Tampa Bay Times Staff Writer, Drew Harwell, states:
In the last year, an odd assortment of private-equity giants, funding arms and financiers have descended on Tampa Bay, according to a Tampa Bay Times analysis of property records, court filings and foreclosure auctions. The bigger players include:
• Blackstone subsidiary Invitation Homes, which since first buying here in August has spent an average of more than $800,000 a day. The local shopping spree is part of its “bet on America,” a $100-million-a-week gorge that has made the firm the “largest owner of individual houses” in the country, CEO Stephen Schwarzman said this month.
• Silver Bay Realty Trust, a public Minnesota trust, which spent $40 million buying 400 homes, adding to hundreds more it already owned.
• American Homes 4 Rent, a Malibu firm led by the billionaire founder of Public Storage and backed by hundreds of millions of Alaskan oil dollars. It spent $80 million on 500 homes.
• Fundamental REO, a New York fund led by former Goldman Sachs executive and subprime-mortgage mastermind Donald Mullen. The fund dropped nearly $10 million on 90 Tampa Bay homes.
• American Home Real Estate Investment Trust in Atlanta, led by a CEO who began buying foreclosures from his living room, which paid $8 million for more than 100 homes.
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