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JPMorgan Asset Management Strikes New Rental House Partnership





By Patrick Clark

Jul 27, 2023

View source version HERE


JPMorgan Chase & Co.’s asset-management arm has entered into a new joint venture to develop rental houses with single-family landlord AMH.

Institutional investors advised by JPMorgan Asset Management joined a $625 million venture with AMH this month, according to a statement Thursday. It’s the second time the companies have teamed up since 2020.


The new partnership comes at a moment when scarce inventory of for-sale listings has pushed landlords to seek other sources for acquisitions, including purchasing new properties from homebuilders. Also this month, rival Invitation Homes Inc. agreed to acquire a portfolio of roughly 1,900 homes for $650 million.


Unlike most of its competitors, AMH functions as both a builder and a landlord, making partnerships with third parties a natural avenue to growth.


The latest joint venture is another push by JPMorgan’s asset-management arm into the housing market. Last year, investors advised by the bank partnered with landlord Haven Realty Capital to develop rental-house communities.



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View source version on bnnbloomberg.ca HERE

https://www.bnnbloomberg.ca/jpmorgan-asset-management-strikes-new-rental-house-partnership-1.1951645



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