This Firm Now Owns Sufficient Single-Household Properties To Home The Whole Nation Of Iceland

Institutional possession of single-family houses has been a controversial subject over the previous yr. Traders bought a record-high variety of rental properties whereas many would-be householders have been priced out of the market.

The most important proprietor of this asset class within the U.S. is Invitation Properties Inc. (NYSE: INVH), a real estate investment trust (REIT) with a portfolio of about 83,000 single-family rental houses as of the tip of the primary quarter this yr.

The corporate’s portfolio is principally made up of houses within the Western U.S. and sunbelt states, the place the boundaries to homeownership are highest and lease demand is powerful. The typical month-to-month lease for the complete portfolio through the second quarter was $2,124, with the very best common lease being in Southern California at $2,779 per thirty days.

Nearly all of the houses are three or 4 bedrooms, with some having as many as six bedrooms. Assuming snug occupancy at a median of 4.5 folks per house, Invitation Properties may simply provide housing for the complete nation of Iceland, which at the moment has a population of 373,059.

Invitation Properties Progress

Invitation Properties launched its second quarter 2022 earnings on July 27, 2022. The corporate’s portfolio grew by 772 houses through the quarter and yr over yr whole revenues elevated 13.4% to $557 million.

Whereas the short-term outlook on the residential actual property market is questionable in lots of peoples’ eyes, the long-term outlook stays constructive for the reason that U.S. nonetheless has a housing scarcity that might probably take a long time to right.

Newest Non-public Market Insights:

  • Arrived Homes expanded its choices to incorporate shares in short-term rental properties with a minimal funding of $100. The platform has already funded over 150 single-family leases valued at over $55 million.

  • The Flagship Actual Property Fund by means of Fundrise is up 7.3% yr so far and has simply added a brand new rental house group in Charleston, SC to its portfolio.

Discover extra information, insights and choices on Benzinga Alternative Investments

Photograph Credit score: Rajesh Pandit on iStock

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