A California billionaire has been snapping up hundreds of homes in southern Dallas County, including South Dallas, snowballing into double-digit purchases a day as the market becomes more attractive for single-family home rentals.
The billionaire, B. Wayne Hughes, founder of Malibu, Calif.-based Public Storage (NYSE: PSA), one of the largest self-storage real estate investment trusts in the nation, has been buying thousands of homes throughout the country, including North Texas, through his recently formed company, American Homes 4 Rent.
The company has a collection of 10,000 homes in the country, the second largest collection of single-family home rentals in the U.S.
Read more...Who's that billionaire buying up homes in South Dallas? - Dallas Business Journal