By John Gittleson and Heather Perlberg | Bloomberg]
Colony American Homes Inc. (CAHS), a single-family rental company founded by Thomas Barrack Jr., is becoming a lender to other landlords.
The Scottsdale, Arizona-based firm, which has about 15,000 houses, began offering loans in July and is targeting rental-property owners seeking $5 million to $10 million in financing, according to Todd Sammann, who runs Colony’s single-family lending arm. The company intends to originate as much as $2 billion in debt during its first year, with potential to do more, including loans of as much as $100 million, he said.
“Colony’s operational expertise and capital-markets background position us well to play a meaningful role in the industry’s consolidation, which we expect to grow as the market evolves,” Sammann said today in an e-mail.
