{"id":142649,"date":"2021-06-03T11:44:19","date_gmt":"2021-06-03T15:44:19","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&p=142649"},"modified":"2021-06-03T11:44:19","modified_gmt":"2021-06-03T15:44:19","slug":"invesco-backs-mynd-to-spend-5-billion-on-single-family-rentals","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/invesco-backs-mynd-to-spend-5-billion-on-single-family-rentals\/","title":{"rendered":"Invesco Backs Mynd to Spend $5 Billion on Single-Family Rentals"},"content":{"rendered":"
June 1, 2021 | Gillian Tan | Bloomberg<\/p>\n
Funds managed by Invesco Real Estate are backing Mynd Management to spend as much as $5 billion, including debt, purchasing about 20,000 single-family rental homes in the U.S. in the next three years.<\/p>\n
The partnership marks a \u201csignificant moment\u201d for the single-family rental industry, Doug Brien, chief executive officer and co-founder of Mynd, said in an interview. More than half of the country\u2019s multifamily properties are owned by institutional investors compared with an estimated ownership of 2% to 3% of single-family rentals, a gap that he expects to narrow in time.<\/p>\n
\u201cAs traditional commercial real estate investors that invested in multifamily as their key strategy have moved into single-family rental, we\u2019re seeing the market flooded with institutional capital,\u201d Brien said. He acknowledged that dynamic will make it more competitive for Mynd to find properties, but touted its data-driven technology as better enabling it to make offers across the U.S.<\/p>\n