Led by Alicia Glen, MSquared recently closed its first fund after raising $108 million from investors including Citigroup, Goldman Sachs and Wells Fargo.
“This feels like they bought way too many homes and they’re trying to work off that excess supply,” said Jonathan Miller, president of appraisal firm Miller Samuel.
Google’s data centers, which house the servers that power billions of web searches, emails, and mapping routes every day, account for most of its electricity consumption.
House prices rocketed around the world in the past year as the cost of borrowing slipped to rock bottom and buyers put a premium on space and greenery.