For all the concerns about the rental housing business, American Homes 4 Rent and Invitation Homes are expanding.
Single-family home rental REIT American Homes announced in the course of its Q2 2023 earnings results a second joint venture with institutional investors advised by J.P. Morgan Asset Management.
It announced it entered into a $625 million joint venture focused on constructing and operating newly built rental homes. American Homes will own 20% of the build-for-rent business "which has an evergreen term." American Homes will also earn fees for development and management services provided to the joint venture.
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