Quantcast

Colony American Homes Completes $513M Securitization

APR 11, 2014 2:02pm ET
Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+
Partner Insights

Colony American Homes has completed a securitization transaction backed by income generated from almost 3,400 single-family rental homes.

The Scottsdale, Ariz.-based company sold $513 million in bonds with a blended London InterBank Offered Rate plus 178 basis points.

"This securitization further validates the single-family rental asset class," said Justin Chang, chief executive officer of CAH, in a press release, and underscores the importance of management infrastructure and operating scale.

CAH is one of a growing number of firms that can now use funds raised from the securitization to grow their business.

The plan is "to actively acquire homes" in selected markets, according to Chen, and maintain its existing portfolio of more than 16,000 rental homes in Arizona, California, Colorado, Florida, Georgia, Nevada and Texas.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.