Sept 17 Real estate mogul Barry Sternlicht's
Starwood Property Trust Inc is planning to buy the
management arm of Waypoint Homes Inc to expand its single-family
rental business, Bloomberg reported on Tuesday, citing three
people with knowledge of the deal.
Starwood last week disclosed in a regulatory filing that it
signed a non-binding letter of intent to buy some assets of an
operator of single-family homes, under a plan to potentially
spin off its rental division. ()
Oakland, California-based Waypoint, which owns over 4,500
homes, is not selling any of its homes in the deal, the report
cited one of the people as saying.
Waypoint's management will operate Starwood's housing-rental
business, according to the report.
Starwood and Waypoint were not immediately available for
comment on the report.