Cerberus plots $500 million expansion of FirstKey Homes single-family rental portfolio

According to Bloomberg, the company, which manages its single-family properties through FirstKey Homes and owned 11,000 homes at the end of 2017, is trying to raise more than $500 million to expand its portfolio by over 40,000 homes. This is the latest blip in a growing trend of investment in rental homes. Pretium Partners recently closed on a $1 billion fund to grow its single-family rental platform, Progress Residential. The company said that the new fund’s strategy is to provide investors with access to a “diverse pool of single-family homes across attractive major markets in the U.S. that are experiencing above-average employment and population growth.”