- The company has been in investor meetings this week making the case for its single-family rental business, say sources, setting the stage for its first securitization of rental payments.
- No details are available yet, but it's expected American Homes 4 Rent (AMH) will pitch the new paper at an ABS conference in Vegas later this month.
- As of the end of Q3, AMH had a $3.5B portfolio of 21K foreclosed homes purchased for the purpose of renting them out. As comparison, Blackstone - which successfully launched a $479M bond late last year - has over 40K homes. These securitizations will provide another cheap source of capital for the single-family players, allowing them to be even more aggressive in their purchases of homes.
- Others: SBY, ARPI
American Homes 4 Rent preps first rental bond
Jan 9 2014, 16:19 ET