Beazer To Build REIT For Single-Family Rental Homes

Law360, New York (May 3, 2012, 7:18 PM EDT) -- Beazer Homes USA Inc. plans to create a real estate investment trust to buy and lease previously owned single-family homes in certain U.S. markets with the help of an investor group led by affiliates of private equity giant Kohlberg Kravis Roberts & Co., Beazer said Thursday.

The REIT, to be known as Beazer Pre-Owned Rental Homes Inc., will purchase, refurbish and lease recently constructed homes on a large scale in various markets. Based in Phoenix, the REIT will start off with 200 of Beazer's own properties...
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