LAS VEGAS—J.P.Morgan Asset Management and single-family rental home REIT AmericanHomes 4 Rent have closed on their first project under a $625million joint venture aimed at this space.
They are developing 34single-family homes in the Sovana and Spring Valley submarketshere. The first home deliveries are expected this June andcompletion is anticipated by October 2020.
J.P. Morgan Asset Management, onbehalf of institutional investors, and American Homes 4 Rent areseeking to deploy $625 million of equity and develop approximately2,500 purpose built single-family rental homes in multiple marketsin the West and Southeast.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
