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Toronto rental company whose CEO became internet villain bought for $3.5 billion

A Toronto-based rental property giant whose CEO once made headlines for his opinions on his young customer base has just been bought out for a cool. ....

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Tricon Residential to Spend $5B on Single-Family Rentals

As opposed to building new homes, the venture plans to acquire existing homes and home communities. The partnership will be the successor to an existing single-family rental joint venture previously launched by Tricon, which has acquired over 9,000 homes and is now fully invested.
Tricon’s latest deal highlights the massive interest in single-family rentals, once a generally overlooked sector. Large institutional investors and private equity firms are raising money to invest in the asset class, which has seen an explosion in growth during the pandemic and amid a record low inventory of homes available for purchase.
In June, Blackstone agreed to acquire Home Partners of America, owner of more than 17,000 homes across the U.S., for $6 billion. ....

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