Bloomberg: Real Estate Manager Plans $500 Million Push to Buy Rental Houses From Builders
BGO, a real estate manager majority owned by Sun Life Financial Inc., committed $500 million to an effort to buy communities of single-family rental homes directly from builders.
The Miami-based firm is partnering with 1Sharpe Capital, co-founded by real estate veterans Gregor Watson and Rob Bloemker, to purchase groups of houses from builders, a strategy that’s seen as easier to manage than one-off acquisitions of scattered properties. For now, BGO and 1Sharpe are buying homes without debt, Watson said in an interview.
