Front Yard Residential is betting big on the single-family rental market, pouring more than $500 million into an expansion, reports HousingWire's Ben Lane.
Front Yard announced earlier this week that it is not only growing its portfolio of single-family rentals to more than 15,000 with a sizable new acquisition, it’s also buying HavenBrook Partners, a property manager, as part of a plan to internalize the management of some of its properties. Beyond buying HavenBrook, Front Yard is also buying 3,236 single-family rental homes that are currently managed by HavenBrook.
According to Front Yard, the deal strengthens its presence in existing “strategic target” markets, which include Alabama, Florida, Georgia and Minnesota.
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