Progress pricing similar to Invitation Homes, but less leverage

rental home
By Ryan Bolger
20 Jan 2015

Progress Residential is marketing its first single-family rental (SFR) securitization of 2015. Initial price thoughts for the issuance are comparable to a deal that Invitation Homes priced last week, even though Progress’s deal is less leveraged.

Progress’s first single-family rental issuance of the year would mark the second deal of 2015 for the asset class which is expected to see a big pick-up in issuance, as large property managers launch deals backed by single-loans and smaller managers look to partner up for a multi-borrower ...

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