(Disclosure: Rose Law Group represents Taylor Morrison.)
By InBusiness Phoenix
Taylor Morrison and Kennedy Lewis Investment Management, an alternative investment manager with approximately $30 billion in assets under management, have entered into a land and construction financing facility agreement, opening $3 billion in capacity for existing and new land opportunities, land development, and construction costs of projects by Taylor Morrison’s build-to-rent brand, Yardly.
“To support the efficient growth of our unique Yardly brand, this strategic financial facility agreement dedicated to our build-for-rent business will help to scale our existing core competencies of land acquisition, land development and efficient home construction. As we target optimal exit strategies for our growing pipeline of Yardly communities, this vehicle enhances our capital flexibility and return expectations,” said Sheryl Palmer, Taylor Morrison Chairman and Chief Executive Officer. “Ultimately, our hope is for Yardly renters to become future Taylor Morrison homeowners.”
