Aslan Realty Advisors suggests this transaction is one that real estate professionals should be watching as a marker in the current real estate cycle.
Lee County, FL Residential Property Portfolio transfer: $9,430,059.00
Mortgage Amount: $22,761,000.00
Seller: RHA 2-SW FL LLC
3505 KOGER BLVD STE 400
DULUTH GA 30096
Buyer: FYR SFR BORROWER, LLC
GRAY, STEPHEN H C/O FRONT YARD RESIDENTIAL CORPORATION
5100 TAMARIND REEF
CHRISTIAN 00820 VI
Mortgage Provided by: Berkadia Commercial Mortgage (Berkshire Hathaway and Jefferies Financial Group company) According to the mortgage document the transaction included 133 properties located in Lee County, FL.
*This was part of a larger transfer of assets~summary details are as follows: Berkadia provided financing of a single-family rental pool comprised of 4,636 single-family homes, 96 townhomes, 34 duplexes, 3 triplexes and one quadplex, totaling 4,813 rental units across 12 states. $508.7 million in financing provided through Freddie Mac on behalf of Front Yard Residential aka FYR SF BORROWER, LLC.
Link to Havenbrook Homes for details on the properties, including location and rental amounts.
If you have questions why this transaction is important, please ask.
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