May 23, 2018

Meet the New Single-Family Rental Giant

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Meet the New Single-Family Rental Giant

American Homes 4 Rent and American Residential Properties announced Tuesday that they have finalized a merger that could play a dominant role in the single-family rental space. American Homes 4 Rent will now own more than 47,000 homes across 22 states. They own at least 1,000 homes in 17 markets alone. American Homes 4 Rent says that it now has a total market capitalization of about $8 billion.

The total transaction value of the merger was $1.3 billion, with American Homes 4 Rent issuing about 38 million common shares and limited partnership units.

Learn more about how mega-investors are changing rental housing.

"We are delighted to announce the completion of our merger with American Residential Properties, further establishing American Homes 4 Rent as the largest publicly traded owner and operator of single-family rental homes," says David Singelyn, American Homes 4 Rent's Chief Executive Officer. "American Residential Properties owned a high-quality portfolio of homes that fit strategically in our markets, offering significant opportunities to capture further operating efficiencies on the combined platform. Moving ahead, we look forward to the rapid integration of the two platforms and to creating additional value for the shareholders of the combined company, while strengthening our position as a premier company in the single-family rental sector."

American Homes 4 Rent officials also note that some of the homes acquired in the merger that do not meet their criteria will be sold “as soon as practicable,” now that the merger is complete.

Source: “American Homes 4 Rent, American Residential Properties Complete Merger,” HousingWire (March 1, 2015)