Foreclosed Homes Purchased by Colony Capital to be turned into Rental Properties

Foreclosed Homes Purchased by Colony Capital to be turned into Rental Properties
November 13, 2012

Colony Capital, a private real-estate investment firm, won an auction for 970 single family homes from mortgage giant Fannie Mae in a deal that cost the company $176 million. The properties are located in California, Arizona and Nevada, three states that have been hit particularly hard by the housing crisis that first began in 2008.

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