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Illustration: Sara Grillo

The Blackstone Group is leading a $300 million minority investment in Tricon Residential, owner of more than 30,000 single-family rental homes.

Why it matters: This is Blackstone's return to the single-family rental market, which it dominated until cashing out of Invitation Homes late last year.

  • It also reflects how single-family rent collections have outperformed apartment rent collections during the pandemic.

The bottom line: "Single-family rentals have been around for decades, but Wall Street viewed scattered-site portfolios as difficult to manage. That changed following the U.S. foreclosure crisis, when firms like Blackstone began assembling massive holdings and developing new property-management systems," writes Bloomberg.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  3. Education: Devos extends federal student loan relief to Jan. 31
  4. States: New Mexico to allow hospitals to ration coronavirus medical care
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.
2 hours ago - Health

A safe, sane survival guide

Photo: Luka Dakskobler/SOPA Images/LightRocket via Getty Images

We all know, it’s getting worse.

Reality check: Here are a few things every one of us can do to stay safe and sane in coming months:

Biden's debut nightmare

President-elect Biden speaks in Wilmington on Nov. 24. Photo: Chandan Khanna/AFP via Getty Images

A dim, gloomy scene seems increasingly set for Joe Biden's debut as president.

The state of play: He'll address — virtually — a virus-weary nation, with record-high daily coronavirus deaths, a flu season near its peak, restaurants and small businesses shuttered by wintertime sickness and spread.

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