Monthly rent checks from hundreds of Florida homes are tied to $513 million in bonds being marketed by Colony American Homes in what is the second securitization of single-family home assets.
The deal by the Santa Monica, Calif.-based Colony American Homes, whose parent company is Colony Capital, follows the Blackstone Group, which made history in November when it sold $479 million in bonds that combined cash flows from 3,500 of its rental homes nationwide.
Both companies are part of the nascent industry of Wall Street landlords buying single-family homes to rent after the housing market crash.
