Items Tagged with 'single-family rentals'

ARTICLES

Urban Institute: Demand for institutional SFR financing will grow

GSEs need guidelines for role in rental market
Fannie Mae recently peeked into the single-family rental space, and the FHFA began to examine the possibility of GSE involvement in the SFR market. The Urban Institute published a report, explaining why Invitation Homes was a good place for Fannie to begin, and what the GSEs should focus on when deciding their future role in the market.
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SEC probes single-family rental bonds

Could be start of an industry-wide investigation
The Securities and Exchange Commission is said to be investigating whether bonds backed by single-family rental homes are using overvalued property assessments. Green River Capital revealed in a regulatory filing that it was one of the market participants that received a request for information. However, it probably wasn’t the only one and probably won’t be the last.
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From HW Magazine

Build to rent

The newest trend in SFR presents a big opportunity for builders and investors
Build to rent allows investors to buy newly built homes and rent them out instead of selling them. Because the homes are new, investors are able to charge higher rent prices and tenants often stay in the home for longer periods of time. But the question remains: Why would builders move into the rental market during a time when homes are selling quickly and at higher prices than any time in the past decade?
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From HW Magazine

The SFR market in 2017

New players, changing deal structures and a rediscovered business model: cash flow
Currently, institutional investors control approximately 170,000 properties (a relatively small portion of the overall SFR space, which is dominated by smaller investors, and estimated to include 11 to 13 million properties). KBRA reports that 105,000 properties have been included in the 26 single-borrower deals done to date, which suggests there are somewhere north of 60,000 properties that could still be securitized. 
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Altisource Residential growing single-family rental business again

Signs agreement to acquire up to 3,500 rental properties
Last year, Altisource Residential doubled its portfolio of single-family rental homes in one deal, buying a portfolio of 4,262 single-family rental properties for $652.3 million from “investment funds sponsored by Amherst Holdings.” And Friday, the company announced that it is growing its single-family rental portfolio again, in another deal with Amherst Holdings affiliates.
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Here are the top 10 metros for single-family rental investors

Average return dips slightly in 2017
Investors saw a slight dip in the single-family rental market, however overall, many metros are still hotspots for investment. In 2017, 86% of the markets analyzed saw a rise in fair market rents even while average wage growth outpaced rent growth in 67% of markets — a recipe for sustainable growth in the rental market.
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Massive single-family rental merger: Tricon Capital to acquire Silver Bay Realty Trust for $1.4 billion

Will create 4th largest publicly owned single-family rental operator
In a deal that will shake up the single-family rental industry, Tricon Capital Group announced this week that it plans to acquire Silver Bay Realty Trust in a $1.4 billion deal that will create one of the country’s largest operators of single-family rental homes.
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Invitation Homes goes public, raises $1.54 billion

Stock for single-family rental operator up in early trading
After months of rumors, Invitation Homes, Blackstone Group’s single-family rental operator, finally went public on Tuesday, raising more than $1.5 billion in its initial public offering. And in early trading, the stock traded above the IPO price of $20, checking in at $20.26 as of 10:58 a.m. Eastern.
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Blackstone's Invitation Homes prepares $1.5 billion IPO

Will sell 77 million shares in single-family rental operator
The initial public offering for Blackstone Group’s single-family rental operator, Invitation Homes, is one step closer to reality, as the company disclosed the terms of its initial public offering on Monday. Per a filing with the Securities and Exchange Commission, Invitation Homes will offer 77 million shares in its IPO, with an estimated share price of between $18 and $21 per share.
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