Dayton Business Journal – City officials in Huber Heights are expressing concern after a New York hedge fund bought 1,900 rental properties earlier this year, according to Bloomberg.
Magnetar Capital LLC, a $9 billion hedge fund, acquired the properties in January from Teresa J. Huber, the widow of Charles Huber, who developed the city in the 1950s and 1960s. The value of the deal was not released, but the company raised $71 million in a private placement related to the deal, according to Bloomberg. The total purchase price could be much higher, potentially well over $100 million, depending on the average price per home in the transaction. But either way, the deal likely is one of the largest single real estate purchases in Montgomery County’s history.
