American Homes 4 Rent Partnering with Varde on $500M Land Banking Facility

Calabasas-based American Homes 4 Rent and Varde Partners have announced they are entering into a $500 million land banking facility agreement to acquire and develop new land opportunities. The two firms have closed on their first six transactions, representing costs of over $150 million, and due diligence is underway on more sites.

“We are excited to combine our extensive experience in U.S. housing with American Homes 4 Rent reputable homebuilding and development platform,” said Varde’s Brendan Bosman in a news release. “The demand for high-quality single-family rental homes has never been higher, despite a persistent shortfall in supply, creating opportunities to invest in segments that are well-positioned for growth.”

“Our facility with Varde Partners will enable us to continue the strategic expansion of our development pipeline while also maintaining our commitment to a best-in-class investment grade balance sheet and reducing long-term risk,” said American Homes 4 Rent CEO David Singelyn.