KKR Launching Single-Family Rental Division

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Another private equity firm is pumping more money into the single-family rental (SFR) market.

Global investment firm KKR plans to launch a division, My Community Homes, to purchase and manage SFR properties nationwide, Bloomberg reported.

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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 AmericaToorak Capital Partners and Activate Capital.

Updated: The story’s been updated to clarify KKR previously invested in SFR companies.