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Wall Street taps Main Street: Investment firms looking for return on Charlotte’s rental homes (access required)

The American Home company is a real estate investment trust that is building dozens of homes it plans to rent in Charlotte, a practice some industry insiders say they haven’t seen before. The American Home, along with other institutional investors, are owning an increasing share of Charlotte area homes. Photo by Nell Redmond

Led by the behemoth Blackstone Group, the largest alternative investment company in the world, institutional investors are buying a lot of single-family homes in Charlotte, fixing them up, renting them out and holding onto them to see if they rise in value. One of every five houses sold in May, June and July in the Charlotte market went to big investors, a higher percentage than in any other market but Atlanta.

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