If You Sell a House These Days, the Buyer Might Be a Pension Fund
With rentals accounting for an increasing share of the housing market and the pandemic driving Americans toward more spacious homes with yards, rental properties have become one of the hottest real estate asset classes. Leading debt investment firm Madison Realty Capital, known for bridge and construction loans for multifamily and office projects across the nation, recently stepped up with $110 million in funding for a Los Angeles subdivision, which is aiming to sell at least 200 of its 700 residences to investors in recognition of this new market. As Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, told The Wall Street Journal, “A lot of things that would have been for-sale housing are going to be for-rent housing.”
