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Progress Residential prices first REO-to-rental securitization

As a testament to the growing popularity of the single-family rental asset class, total issuance for 25 single-family securitizations in two years have amounted to $13.08 billion backed by loans.

Progress Residential, a single-family rental company founded by former Goldman Sachs partner Donald Mullen, Jr., priced its inaugural securitization today, according to a person familiar with the deal. deutsche bank, which provided Progress Residential with a $400 million line of credit last year, is the lead manager of the securitization.

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New York, February 28, 2019 — Moody’s Investors Service ("Moody’s") has assigned definitive ratings to four classes of certificates backed by one fixed-rate loan secured by mortgages on 2,391 single-family rental properties owned by Progress Residential (Progress) 2019-SFR1 Trust securitization.

New York, April 25, 2019 — Moody’s Investors Service ("Moody’s") has assigned definitive ratings to four classes of certificates backed by one fixed-rate loan secured by mortgages on 2,459.

CEO and Founder of Lafayette Real Estate (New York) – Lafayette RE LLC is a New york-based private equity firm dedicated to the single-family rental industry in the U.S. Lafayette owns and manage more than 2,000 single family rental homes and 150 vacant lots, mostly located in Florida, Georgia and Arizona.

The Securitization Process Prof. Ian Giddy Stern School of Business New York university asset -backed Securities

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The purpose of this paper is to analyze the securitization of rental streams, a new investment and finance product introduced in the USA in 2013 that enables fundraising from large residential portfolios owned by major investment funds and investment banking.

Progress Residential, the latest company to join the growing REO-to-rental securitization market, has priced its first securitization, a $473.4 million offering, backed by a single loan secured by.

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Progress 2017-SFR2 is a single-borrower, single-family rental (SFR) securitization that will be collateralized by a $271.1 million loan secured by first priority mortgages on 1,598 income.

got their start in the early 2010s by taking advantage of bargain prices on foreclosed homes by buying huge numbers of properties in bulk. Since then, other companies, like Progress Residential, Main.