Single-Family Rental Market Attracts HomeUnion

LOS ANGELES—The single-family rental market in Southern California has attracted HomeUnion. The online investment management firm is expanding its business here to take advantage of the market and the diversity of asset types. It plans to start with key neighborhoods in the L.A. area.

“We are rounding out our asset inventory,” Don Ganguly, CEO of HomeUnion, tells GlobeSt.com. “Southern California is a very active real estate market and it has some very interesting segments, and one piece of that specifically is international investors. If you break down Southern California, you are actually seeing properties with 3% to 5% yields, so it is a little more accessible. It is more expensive than the Midwest and has a little bit lower yields, but Southern California has a cachet.”