SFR

Moody's Revises Invitation Homes’ Rating Outlook from ‘Stable’ to ‘Positive’

Retrieved on: 
Thursday, April 27, 2023

Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”) announced today that Moody’s Investors Service (“Moody’s”) revised its rating outlook for the Company from ‘Stable’ to ‘Positive’ and affirmed all of the Company’s ratings, including the Baa3 senior unsecured rating.

Key Points: 
  • Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”) announced today that Moody’s Investors Service (“Moody’s”) revised its rating outlook for the Company from ‘Stable’ to ‘Positive’ and affirmed all of the Company’s ratings, including the Baa3 senior unsecured rating.
  • In its public announcement on the matter, Moody’s emphasized the Company’s “scale as a leading single-family home (SFR) owner/operator with a strengthened balance sheet with improved leverage metrics and a flexible capital structure” and that the Company "maintains good liquidity and access to capital to meet its near-term debt obligations, which are manageable including extension options.” Moody’s also noted that the Company’s “large portfolio is spread across sought after residential neighborhoods, located predominantly in thriving Sun Belt markets with attractive demand drivers and high-growth potential” and that the Company’s “operating performance has proven resilient over the past several years, supported by the structural and secular trends that are constructive for the broader US housing rental market.”

Appreciate Announces Preliminary Full Year 2022 Results

Retrieved on: 
Tuesday, April 25, 2023

The Company notes that the results described in this press release are preliminary and subject to audit and accordingly may materially change.

Key Points: 
  • The Company notes that the results described in this press release are preliminary and subject to audit and accordingly may materially change.
  • Full Year 2022 Preliminary Unaudited Financial Results:
    Preliminary full-year 2022 revenue was approximately $28.3 million, up 1.4% compared with 2021.
  • Preliminary full-year 2022 gross profit was approximately $13.2 million, up 4.2% compared with 2021.
  • Preliminary unrestricted cash & cash equivalents at year-end 2022 were approximately $0.1 million, and preliminary total debt principal at year end approximated $11.1 million.

Appreciate Announces Receipt of Notice From Nasdaq Regarding Late Filing of Annual Report on Form 10-K

Retrieved on: 
Tuesday, April 25, 2023

The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the Nasdaq Listing Rule 5250(c)(1) (the “Rule”) because it has not timely filed the Form 10-K with the Securities and Exchange Commission (the “SEC”).

Key Points: 
  • The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the Nasdaq Listing Rule 5250(c)(1) (the “Rule”) because it has not timely filed the Form 10-K with the Securities and Exchange Commission (the “SEC”).
  • Nasdaq has informed the Company that, under Nasdaq rules, the Company has 60 calendar days from receipt of the Notice or until June 19, 2023, to submit a plan to regain compliance with the Rule.
  • If Nasdaq accepts the Company’s plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the Form 10-K, or until October 16, 2023, to regain compliance.
  • If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.

Single-Family Home Rents Continue to Rise

Retrieved on: 
Thursday, April 20, 2023

BOSTON, April 20, 2023 /PRNewswire/ -- Rentometer has released their Q1 2023 Rent Report for three-bedroom (3-BR) houses that are single-family rentals (SFRs). Rentometer collects data for all residential asset classes, but this report is focused on SFR because they are one of, if not the most, active residential rental asset classes today.

Key Points: 
  • BOSTON, April 20, 2023 /PRNewswire/ -- Rentometer has released their Q1 2023 Rent Report for three-bedroom (3-BR) houses that are single-family rentals (SFRs).
  • Home Rents on the Rise in Q1 2023: Double-Digit Price Increases in 60% of U.S. Cities
    The Q1 '23 report covers 426 cities that had at least 25 data points for Q1 '22 and Q1 '23.
  • It includes an analysis on year-over-year change in average rent prices by city for the first quarter.
  • Other notable markets with decreasing average rents are Hamilton, OH (-16%), La Quinta, CA (-14%), and Birmingham, AL (-12%).

WealthTech-PropTech-Fintech crossover Plotify Raises $12.5 Million in Equity Financing

Retrieved on: 
Thursday, April 20, 2023

NEW YORK and LONDON, April 20, 2023 /PRNewswire-PRWeb/ -- Plotify, the full stack end-to-end asset management platform with integrated lending for income-generating residential investment properties, closed on a Series A investment round of $12.5 million.

Key Points: 
  • "Plotify is an entirely new approach to real estate investing, starting with single family rentals (SFRs).
  • "Our platform not only compresses an SFR transaction into minutes, it includes optional and instantaneous point of purchase financing.
  • Plotify recently launched Plotify Insights which helps its members to decode the U.S. housing market.
  • To sign up for a first look at Plotify and gain priority access to the app, visit plotify.co.

Pagaya Receives $75 Million from Longstanding Investor Oak HC/FT to Accelerate M&A Strategy

Retrieved on: 
Thursday, April 20, 2023

The preferred converts at $1.25, which reflects a premium of approximately 36% to Pagaya's closing price on April 19, 2023.

Key Points: 
  • The preferred converts at $1.25, which reflects a premium of approximately 36% to Pagaya's closing price on April 19, 2023.
  • Pagaya is at the forefront of leveraging AI and advanced analytics to increase global access to financial products and services.
  • Making strategic acquisitions is an important part of this vision, combining leading companies to create broader and unique offerings for customers.
  • The investment from Oak HC/FT will empower Pagaya to continue engaging leading, founder-based fintech companies, who will benefit from the Company’s unique AI capabilities.

KBRA Releases Research – Single-Family Rentals: Headwinds Mounting

Retrieved on: 
Thursday, April 13, 2023

KBRA releases research that gives an update on trends within the single-family rental (SFR) sector.

Key Points: 
  • KBRA releases research that gives an update on trends within the single-family rental (SFR) sector.
  • These challenges have ramped up over the last two quarters and have so far been felt predominantly at the owner/operator level.
  • While tenant delinquency rates remain meaningfully above pre-pandemic levels, institutional SFR assets have maintained relatively stable occupancy rates and high tenant retention rates, despite the headwinds.
  • Market data indicates that asking rental rates started declining in Q3 2022, around the same time that home prices started declining.

Top 10 SFR REIT Taps Stellar to Streamline Home Maintenance Across the U.S.

Retrieved on: 
Thursday, April 13, 2023

The alliance will give the industry-leading SFR REIT access to Stellar’s technology platform and 8,000+ contractors allowing them to improve NOI, streamline back-end operations for internal employees who manage maintenance, and deliver stress-free maintenance to their residents.

Key Points: 
  • The alliance will give the industry-leading SFR REIT access to Stellar’s technology platform and 8,000+ contractors allowing them to improve NOI, streamline back-end operations for internal employees who manage maintenance, and deliver stress-free maintenance to their residents.
  • (Graphic: Business Wire)
    “Stellar and the REIT are both committed to powering a positive resident experience,” said Dustin Marx, Founder and CEO of Stellar.
  • Stellar is in the business of hassle-free maintenance done right and was purpose-built to deliver a seamless maintenance experience to property owners, property managers, contractors, and residents.
  • The REIT continues to be a top choice among consumers, and together with Stellar, is helping more people get into great homes.

MARKERR COMPLETES $6.6 MILLION SERIES B

Retrieved on: 
Tuesday, March 28, 2023

NEW YORK, March 28, 2023 /PRNewswire/ -- Markerr, an analytics platform powering critical decision-making for institutional owners and operators of real estate, announced today that it closed a $6.6 million Series B. The round was led by RET Ventures and includes strategic investment from Pretium, a specialized investment firm with more than $50 billion in assets under management.

Key Points: 
  • Markerr announced a $6.6 million Series B led by RET Ventures and includes strategic investment from Pretium.
  • Markerr continued its rapid growth during 2022, with annualized recurring revenue (ARR) growing 95% year over year and net retention surpassing 140%.
  • Markerr analytics and derived insights allow clients to operate with greater confidence and speed.
  • Markerr is ideally positioned for continued growth, and we're excited to work alongside Brian, Pretium, and Markerr's stakeholders to help scale the company."

Roofstock onChain Sells Georgia Home to RealT using an NFT on OpenSea

Retrieved on: 
Wednesday, March 22, 2023

The sale was transacted on the Ethereum blockchain through a non-fungible token (NFT) sold on OpenSea, enabled by Roofstock onChain , the web3 business unit of Roofstock.

Key Points: 
  • The sale was transacted on the Ethereum blockchain through a non-fungible token (NFT) sold on OpenSea, enabled by Roofstock onChain , the web3 business unit of Roofstock.
  • The sale to RealT is an exciting development that is streamlining the traditional real estate purchase and sale process.
  • Beyond the initial Georgia home sale, RealT will continue to tap Roofstock to source and acquire properties.
  • The sale of single family homes using NFT technology marks a significant step in modernizing the SFR real estate industry.