Single-family rental securitization market expands to federally subsidized rents

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Feature must result in the monetization of the single-family rental properties’ property values during the scheduled term of the securitization and at a specified amount of proceeds. Interest rate derivatives are often embedded in structured finance transactions to hedge

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In the fall of 2013, private equity firm Blackstone LP issued the first single-family rental (SFR) securitization: Invitation Homes 2013-SFR 1. In March, Colony Capital released another SFR securitization. The Invitation Homes 2013-SFR 1 was backed by 3,207 single-family rental homes concentrated in Arizona, California, Florida, Georgia, and Illinois.

WASHINGTON – Industry groups are raising more concerns about a Fannie Mae financing deal involving the securitization of single-family rental homes, arguing it is too far removed from the government-sponsored enterprise’s mandate. The Community Home Lenders Association and National Association of.

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Over the past two years, investors have acquired more than 200,000 homes – mostly foreclosures being sold off at bargain-basement prices – and refashioned them into a new single-family home rental empire servicing those struggling to find affordable housing. For Wall Street, rental securitization is the next logical step.

the lack of a long term history of rents for comparison the geographic concentration of the homes Blackstone’s limited equity in the deal ($63.7 million)1 may reduce the incentive to maintain the properties the "release of properties" clause The first two points are inherent in any securitization of single-family rentals; the industry is new and

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There’s a new face in the single-family rental securitization market – Tricon American Homes.

he single-family residential (SFR) rental market has rapidly evolved with the acquisition, ownership and management of very large portfolios of properties by institutional investors. Securitization has developed into an efficient new source of capital markets financing to support this institutional ownership.

Securitization Rankings for Highest SFR Returns by County and Zip Code; Best Millennial SFR Markets in Detroit, Duluth, Kansas City, Oklahoma City IRVINE, Calif. – March 23, 2017 – ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its Q1 2017 Single Family Rental Market report, which ranks the best U.S. markets.

Although I like getting 20%+ yields now, I am under no illusions that is will continue- either property prices will rise to erode these yields as more capital comes into follow previously successful transactions; or a mass of rental properties will hit the market, causing rents to fall. If the prices rise, we sell.