Progress Residential CEO: Single-Family REITs Poised for Growth

A fragmented market and growing demand for rental housing puts larger companies in the single-family rental sector in a strong competitive position, according to some market observers.

In a webinar hosted by real estate research firm Green Street Advisors, Don Mullen, CEO and chief investment officer of Progress Residential Master Trust, a private REIT, said current conditions are creating “tremendous opportunity” in the sector.

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Apartment REIT Equity Residential Selling Assets for $5.4 Billion

Equity Residential (NYSE: EQR) announced Oct. 26 that it has agreed to sell more than 23,000 apartment units in mainly suburban locations to private equity firm Starwood Capital Group for $ 5.37 billion.

The deal involves 72 properties located in South Florida, Denver, Washington, Seattle and California’s Inland Empire. The sale is expected to close in the first quarter of 2016. Starwood will pay approximately $ 230,634 per unit.

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NexPoint Residential Appealing to Blue Collar Renters

NextPoint

NexPoint Residential Trust’s (NYSE: NXRT) public listing on April 1 capped more than a year of rapid growth in the multifamily REIT’s portfolio.

The Dallas-based REIT focuses on the middle-income rental sector. Matt McGraner, an executive vice president with NexPoint, spoke with REIT.com about the company’s strategy and the outlook for its properties located in the Southeast and Southwest of the United States.

 

REIT.com: How did NexPoint evolve to where it is today?

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American Residential Properties says REIT Focused on Stabilizing Portfolio

Stephen Schmitz, chairman and CEO of American Residential Properties (NYSE: ARPI), and Laurie Hawkes, the company’s president and COO, joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

American Residential Properties acquires, renovates, leases and manages single-family properties across 13 states.

Schmitz discussed whether the company continues to see acquisitions as the most important generator of strategic value.

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American Residential Properties Sees Opportunities in Sector Outstripping Available Capital

Stephen Schmitz, chairman and CEO of American Residential Properties (NYSE: ARPI), and Laurie Hawkes, the company’s president and COO, joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.

American Residential Properties acquires, renovates, leases and manages single-family properties across 13 states. The company is located in Scottsdale, AZ.

Schmitz discussed the current state of the acquisitions market for single-family properties.

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American Residential Execs Single-Family Home Acquisitions to Continue

The executive team of single-family housing REIT American Residential Properties (NYSE: ARPI), president and COO Laurie Hawkes and chairman and CEO Stephen Schmitz, joined REIT.com for a video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York.

American Residential acquired 700 homes in the first quarter of the year. Schmitz talked about the pace of transactions in the quarter and the likelihood it would hold up going forward.

“We think that’s a well-measured pace,” Schmitz said.

Laurie Hawkes and Stephen Schmitz

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