Facing heavy competition and lower yields on acquisitions of existing SFRs, investors are betting on building new communities from the ground up.

With the purchase of mortgage lender Foundation Home Loans, Athene will pick up a $4.2-billion portfolio of mortgages.

Across the U.S., cash purchases accounted for 30 percent of home sales from January through April, on track with 2015 levels.

The deal builds on two initiatives by Blackstone: to build permanent capital through an expansion into insurance, and to pursue lower-cost rentals for its CRE business.

Acquisitions of retail property rose in recent months. But the sector continues to face uncertainty and a bid/ask divide.

VineBrook Homes Trust, which operates more than 13,500 SFRs, has held discussions with advisers about going public.

REITs have a track record of performing well during inflationary periods.