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Residential real estate

When the neighborhood is owned by billion-dollar companies

in Apolitical/Top Headlines by

Many of the single-family homes in the Piedmont Park neighborhood of Apopka, Florida, used to be owned by families — the Vargases and the Townes, the Pierces and the Riddles. Now, they’re owned by Blackstone, American Homes 4 Rent and Colony Starwood Homes, companies associated with big real estate investment firms. And the occupants are tenants, not owners. In the decade since the housing boom deflated into a bust, financial firms recognized an investment opportunity in hard-hit areas like this…

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