633 homes purchased for $104M during quarter, 15% more than Q3, and bringing number of homes higher by 12%. Leased properties up 11% to 458; occupancy rate of 75% on total portfolio unchanged from Q3, 86% on properties owned six months or longer, down from 92% in Q3.
Increased renewal rents by 3.4%. Broke even on core FFO.
Funded $18M in short-term private loans; owned $42M of these now, with average interest rate of 11.8%.
Economies of scale? Purchases in Q4 are all over: 291 in Texas, 103 in Tennessee, 88 in North Carolina, 59 in Illinois, 31 in Georgia, 23 in Indiana, and on down the line until 2 each in South Carolina and Nevada.
In the first two months of 2014, company has purchased another 308 homes for about $46M and put under contract another 340 homes for about $53M.
CC tomorrow at 11 ET.
ARPI no trades AH