American Homes 4 Rent enters $500 million credit facility via Varde

By Marisa Wong

Los Angeles, June 6 – American Homes 4 Rent announced it entered into a land banking facility with an initial capacity of $500 million with Varde Partners.

American Homes will use the facility to acquire and develop new land opportunities as part of its internal development platform.

The two firms recently closed their first six land transactions into the facility, representing total acquisition and development costs of over $150 million, and due diligence is underway on additional sites, according to a press release.

American Homes 4 Rent is a Calabasas, Calif.-based real estate investment trust that acquires, develops and leases single-family homes as rental properties.

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