Metro Phoenix Real-Estate Attracts Warren Buffett
Global financier Warren Buffett said his company, Berkshire Hathaway Inc., is boosting its real estate holdings. The latest purchase is a 10 percent stake in a Scottsdale company.
Scottsdale-based Store Capital is a real-estate investment trust, holding more than 1,700 properties across 48 states.
Berkshire’s $377 million purchase of Store was announced four days after another purchase announcement for a real estate company in Canada.
Berkshire Hathaway’s 10 percent purchase in Store Capital makes it the company’s third-largest investor, after Vanguard Group and Fidelity.
Berkshire's other investments tied to real estate include HomeServices of America, the second-largest U.S. residential real estate brokerage, and Clayton Homes, which makes manufactured housing.
The Omaha, Nebraska-based conglomerate has more than 90 units in the insurance, energy, railroad, retail and other sectors.