![]() On average, the rental homes are 18 years old on average, slightly younger than previous deals, and the average square footage of 2,061 is larger. Some of the aspects of the underlying properties are similar to previous FKH transactions, such as the number of states represented hovering around the mid-teens, and southeastern states-such as North Carolina-representing the top three states, and around 40 CBSAs represented in the deal.įKH 2022-SFR1 does have a couple of key differences, however. The pool has an occupancy rate of 78.8%, and loan-to-BPO value of 99.5%. On a weighted average (WA) basis, the collateral has an original lease term of 13.4 months, with a remaining term of 10.8 months, and monthly rent of $2,098. When you rent from FirstKey, youre not just. ![]() ![]() List Your Rentals.Find homes for rent in Santee SC. FirstKey Homes is a real estate management firm that believes in making their properties feel like your home. On average, the properties have a broker price opinion (BPO) of $354,514, and the top three states have a BPO of 53%. FirstKey Homes, LLC is an Equal Housing Lessor under the FHA. Once youre moved in, look to FirstKey Homes to handle the big stuff. Sure, we have an extensive selection of homes, but more importantly, we have the one thats perfect for you: in the right community, with the right neighborhood, and at the right price. KBRA expects to assign ratings ranging from ‘AAA’ on the $428 million class A certificates to ‘B’ on the $57.1 million F1 notes. Simply put, youll unlock more with your FirstKey Homes rental experience. Similar to typical SFR transactions, FKH 2021-SFR1 can release individual properties subject to certain prepayment premiums that range from 5% to 20%, according to the rating agency. The notes will be issued through a senior-subordinate capital structure, the rating agency said.įKH 2021-SFR1 deal is the latest in a recent cluster of single-family rental home securitizations, including the STAR 2022-SFR3, plus the forthcoming Progress Residential 2022-SFR3, tapping the markets for more than $2 billion. Morgan Stanley leads the list of placement agents on the transaction, which includes BofA Securities, Wells Fargo Securities, Goldman Sachs & Co., and Citigroup Global Markets. Start your real estate search the right way by finding the best agent to work with in your area. Florida, Texas and North Carolina represent the top three states in the collateral, KBRA said. The collateral homes are located in or near 40 Core Based Statistical Areas (CBSAs) across 14 states, while the top-three CBSAs represent 32.0% of the portfolio and include Phoenix (12.0%), Atlanta (11.1%) and Charlotte, N.C. The fixed-rate, five-year loan will require interest-only payments, and Midland Loan services is the servicer on the transaction.
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