2 investors seeking early exit from single-family home play

Oaktree Capital Group and partner Carrington Mortgage Services are attempting to sell a portfolio of about 500 fully leased homes, Reuters reports.

Many large investors have been purchasing distressed properties en masse in order to rent them out as home prices recover.

Oaktree and Carrington’s decision to sell, which represents a departure from their initial plans to convert their portfolio into a real estate investment trust, appears to offer the latest indication that investors like the two are now beginning to attempt to cash out, as returns on rental revenue from homes begins to slide.

Source: Reuters