Rental House Giant Backs $750 Million Push Into Lease-to-Own
Invitation Homes is investing in a new company that caters to buyers struggling to afford homes as prices soar.
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A group of investors that built a single-family rental company inside Blackstone Inc. during the U.S. foreclosure crisis is back with a new venture -- one they say can help young families buy homes at a time when rising prices are pushing ownership increasingly out of reach.
Rent-to-own startup Pathway Homes plans to spend an initial $750 million acquiring houses on behalf of its customers, who will lease the properties with the option to purchase them. The company is backed by venture capital firm Fifth Wall, U.K.-based Regis Group and Invitation Homes Inc., the single-family landlord that Blackstone took public in 2017.