KKR Launching Single-Family Rental Division
Another private equity firm is pumping more money into the single-family rental (SFR) market.
It’s unclear how many properties, the locations and how much KKR invested in My Community Homes, but Bloomberg reported that KKR will use money from real estate and private credit funds.
A spokesperson for KKR declined to comment.
KKR is the latest institutional investor to pump more money on the SFR train — which has boomed recently thanks to ultra-low interest rates and stable occupancy during COVID-19 — joining Brookfield Asset Management, JPMorgan Asset Management and Rockpoint Group.
In June, Invesco Real Estate and Mynd Management announced they will partner to drop $5 billion to acquire nearly 200,000 SFR homes in the country, GlobeSt. reported.
And earlier this week, Blackstone Group announced it will acquire SFR operator Home Partners of America — which owns more than 17,000 houses nationwide — for $6 billion.
KKR itself previously invested in SFR operators Home Partners of America, Toorak Capital Partners and Activate Capital.
Updated: The story’s been updated to clarify KKR previously invested in SFR companies.