The rise and fall of the single-family as an institutional asset class

THE RISE & FALL OF THE SINGLE-FAMILY AS AN INSTITUTIONAL ASSET CLASS OVER 200,000 HOMES WERE PURCHASED BY INVESTORS SINCE 2012 & OVER $15B OF INSTITUTIONAL CAPITAL PLACED 2012 AMERICAN HOMES 4 RENT COLONY AMERICAN HOMES >15,300 homes -300/mo in acquisitions >25,000 homes BLACKSTONE >44,000 homes 14 cities AMERICAN RESIDENTIAL PROPERTIES >6,000 properties SILVER BAY REALTY TRUSTI >5,600 homes (first to convert to single-family REIT) OTHER PLAYERS (WAYPOINT HOMES, MACK COS.)