Progress Residential announces third single-family rental securitization

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Progress Residential announces third single-family rental securitization

Progress Residential announces third single-family rental securitization

Housing Wire-

Progress Residential’s third single-family rental securitization is getting ready to hit the market, which will be collateralized by a $438.7 million loan secured by first priority mortgages on 3,317 income-producing single-family homes.

The company announced its first single-family rental securitization in September 2014, and then a second in January of this year.

The company’s first offering was a $473.4 million deal secured by first priority of mortgages on 3,142 income-producing single-family rental properties, while the second one was collateralized by a $563 million loan secured by first priority mortgages on 4,028 income-producing single-family homes.

 [HOUSING WIRE]

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