American Homes 4 Rent Forms JV to Acquire Mortgage Assets
American Homes 4 Rent (NYSE: AMH) (the "Company") today announced the formation of American Mortgage Investment Partners, LLC ("AMIP"), a joint venture established by the Company and Johnson Capital Residential Investments, LLC ("JCRI"), an investment entity formed and capitalized by a group of mortgage servicing and real estate finance professionals. AMIP was formed to manage multiple investment funds focused on the acquisition and resolution of distressed residential mortgage assets in the United States. AMIP currently holds no residential mortgages and is expected to focus initially on evaluating possible acquisitions.
AMIP will be managed by a partnership of personnel provided by JCRI and the Company, together with select third party service providers and vendors. The joint venture expects to leverage AMH's single family property management infrastructure and nationwide presence.