PHOENIX—Colony American Homes announces it has completed a securitization transaction backed by rental income from 3,399 homes from its portfolio of single family rental homes. CAH sold $513.6 million of bonds at a blended interest rate of LIBOR plus 178 basis points.
Justin Chang, chief executive officer of CAH, says, “This securitization further validates the single-family rental asset class and underscores the importance of CAH's management infrastructure and operating scale. Funds raised from the securitization will further our ability to actively acquire homes in our selected markets and allow us to maintain top quality management of those homes.”
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