“Blackstone Group LP’s Invitation Homes, after spending more than $9 billion in a U.S. property-buying spree, is starting to sell some houses as it shifts focus from rapid expansion to fine-tuning its holdings.  Blackstone led private equity firms, hedge funds and other large investors in buying thousands of houses after the real estate crash, creating a new asset class of single-family rentals. Shares of publicly traded single-family landlords have trailed apartment companies as investors remain wary about the costs of running scattered-site rental properties. Landlords need thousands of homes in a market to achieve the scale needed for efficient management. That’s pushed smaller and mid-size owners to sell.”

http://www.bloomberg.com/news/articles/2015-07-13/blackstone-selling-1-300-atlanta-houses-in-strategy-shift

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