Real estate investment and management companies are still hungry for single-family rental properties, with some firms going upstream and buying nonperforming loans to meet their acquisition goals.

In late June, Starwood Waypoint Residential Trust purchased a pool of 1,440 nonperforming loans for a purchase price of $117 million, according to analysts at Keefe Bruyette & Woods. They estimate that Starwood acquired 1,797 properties in the second quarter, bringing its rental portfolio up to 8,992 properties at quarter-end, including loans converted to real estate owned and property sales.

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