"We've got clients, multiple, well over a couple billion dollars worth of capital looking to place in this space," said Michael Finch, executive vice president at SVN/SFRhub Advisors, a new Phoenix-based commercial brokerage firm focused on single family rental and build-to-rent investment portfolios. "They are looking to acquire 5-6,000 homes in the next two years."
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"It's viewed as an ancillary income stream. We see this as more and more renters may prefer to raise a family or live in a single-family home versus an apartment complex or community or building. And so it is part of our Apartment Living group," Toll Brothers CEO Douglas Yearley said on the company's second quarter earnings conference call last month.
"We recently entered an agreement with one of our long-standing third-party relationships to build homes that will be purchased by that third-party in a stand-alone rental community," Lennar President Rick Beckwitt said on the company's earnings call. "This community is in Florida and is the first in what we believe will be an ongoing business strategy and relationship where we build and sell homes in bulk on land owned by third parties with no lease-up risk."
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