American Homes 4 Rent, No. 41 on the 2022 Builder 100, and Värde Partners has announced their partnership in a land banking facility agreement. The initial $500 million facility will help to acquire and develop new land opportunities in American Homes 4 Rent’s markets.
As a part of American Homes 4 Rent’s internal development platform, the two companies have closed on six land transactions totaling over $150 million in acquisition and development costs. Additional sites are in due diligence periods.
“Our facility with Värde Partners will enable us to continue the strategic expansion of our development pipeline while also maintaining our commitment to a best-in-class investment grade balance sheet and reducing long-term risk,” says David Singelyn, CEO of American Homes 4 Rent. “With a continued focus on our disciplined underwriting process and a robust pipeline of development opportunities, we are well-positioned to execute our three-pronged growth strategy in our diversified portfolio footprint while driving value for shareholders.”
With 28 years of experience investing in real estate, Värde Partners has substantial equity and credit investments in residential land development and home building transactions. The partnership with American Homes 4 Rent further expands its U.S. housing footprint.
A leading provider of high-quality single-family homes for rent, American Homes 4 Rent is an internally managed Maryland real estate investment trust that focuses on acquiring, developing, renovating, leasing, and operating single-family homes as rental properties. As of March 31, the firm owned 57,984 single-family properties in selected submarkets in 22 states.
“We are excited to combine Värde’s extensive experience in U.S. housing with American Homes 4 Rent’s reputable home building and development platform,” says Brendan Bosman, senior managing director at Värde Partners. “The demand for high-quality single-family rental homes has never been higher despite a persistent shortfall in supply, creating opportunities to invest in segments that we believe are well-positioned for growth. We look forward to working with American Homes 4 Rent to capitalize on these trends and the strong dynamics in their core markets.”
