Starwood Waypoint REIT Grabs $144M Rental Home Portfolio

Law360, New York (March 5, 2014, 3:21 PM EST) -- Starwood Waypoint Residential Trust, a real estate investment trust spun off from Starwood Property Trust Inc., said Tuesday it has acquired a portfolio of 707 single-family homes for $144 million, marking the new company's first major acquisition.

Starwood Waypoint said it has acquired the single-family rental home portfolio Waypoint Fund XI. Out of the portfolio, about half the homes are located in California with almost a fifth in Florida, where the company already owns a large concentration of homes, the company said. Approximately 91 percent of...
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