Friday, July 24, 2015

American Homes 4 Rent Acquires 60 Properties

California-based American Homes 4 Rent acquired sixty single family residential homes throughout Maricopa County for $7,181,000 from Connecticut based Ellington Housing Inc as part of a 900 property $126 million portfolio deal. Although the deal was completed on December 31, 2014 no affidavit of value was recorded with Maricopa County until July 23, 2015. American Homes put $74.4 million down and assumed the remaining $51.6 million in debt set to mature on July 1, 2019.  The deal expands American Homes footprint from six states to twenty two and brings their ownership number to over 31,000 single family homes.

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