Institutional buyers target smaller single-family home portfolios

12/26/2012 | Wall Street Journal, The

The early investors in the single-family distressed home market -- usually mom-and-pop or smaller firms -- are beginning to cash out of the asset class. Larger, institutional players are buying up these smaller portfolios in recognition of their value. The sellers of these portfolios often stay on as managers. "You've now got institutional funds saying, 'We're not going to do this on our own. We're going to trust the experience and knowledge of smaller companies that know their streets,' " said Eric Workman, vice president of sales and marketing for MACK.

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