Värde Partners and American Homes 4 Rent Agree to Land Banking Facility
Posted on 06/07/2022
Värde Partners entered into a land banking facility agreement with American Homes 4 Rent (NYSE: AMH). This facility provides US$ 500 million in initial capacity to acquire and develop new land opportunities as part of American Homes 4 Rent’s internal development platform. The two firms have 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.
Värde Partners has experience investing in real estate, with substantial equity and credit investments in residential land development and homebuilding transactions. This partnership further expands the firm’s U.S. housing footprint in its target markets.
AMH Development, a unit of the REIT, has 20,000 plus lots owned, controlled and in escrow as of the first quarter of 2022 vs 9,000 losts at the end of December 31, 2020.
Keywords: Varde Partners.