Scottsdale rental home business bought by competitor for $1.5 billion

Scottsdale

ScottsdaleBy Patrick O’Grady | Phoenix Business Journal

American Residential Properties Inc., which owns thousands of rental homes in Arizona and around the U.S., is being purchased by larger competitor American Homes 4 Rent for $1.5 billion.

Scottsdale-based American Residential (NYSE: ARPI) built a large portfolio of residential homes following the foreclosure crisis and recession.

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