A partnership between funds managed by Invesco Real Estate and Mynd Management plans to invest in the single family rental home space. The duo plan to spend $5 billion, including debt, to purchase approximately 20,000 single-family rental homes in the next three years.
"We know SFR represents a tremendous opportunity to invest in an emerging asset class that will allow us to provide a high-quality living experience to Americans seeking their next home," said Pete Cassiano, managing director at Invesco Real Estate in prepared remarks.
According to Mynd's website, it oversees more than 8,000 units for its property owner clients in a number of markets around the country, including the Bay Area, San Diego, Sacramento, Phoenix, Reno, Las Vegas, Dallas, Atlanta, Portland, OR, Vancouver, WA, Tucson, Denver, San Antonio, Houston and Tampa.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
