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Corporation is helping feed housing frenzy


A corporation recently acquired by the world’s biggest real estate investor has snapped up 108 houses in the frenzied Colorado Springs market since October, and in some cases paid over the asking price.
HPA US1 LLC paid nearly $41 million for the homes, which are scattered across El Paso County, from just west of Interstate 25 to Peyton, and from Northgate to Fountain.
Corporations buying single-family homes and then renting them is nothing new, but HPA’s activities document that a corporate buyer has been a player in the local real estate scene.
HPA, however, doesn’t simply assemble a stable of properties to rent; rather, it offers an opportunity to buy to its renters who otherwise might have difficulty qualifying for a mortgage. ....

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