CALABASAS, Calif. and
NEW YORK, May 4, 2021 /PRNewswire/ -- American Homes 4
Rent (NYSE: AMH) is pleased to introduce Brentwood in Mooresville, N.C., and Westbrook Lake in
Cumming, Ga., which are the sixth
and seventh newly built single-family rental home communities in
its joint venture with J.P. Morgan Global Alternatives.
Brentwood and Westbrook Lake will
have 329 homes combined and are American Homes 4 Rent's ("AH4R")
68th and 69th newly built rental home communities to open
nationally.
In early 2020, J.P. Morgan Global Alternatives, on behalf of
institutional investors, and American Homes 4
Rent announced plans to deploy $625 million of
equity and develop approximately 2,500 single-family rental homes
in high-growth markets across the Southeast and West.
"We remain positive on the outlook for demand for built-for-rent
single-family homes, as many city dwellers continue to seek
additional space and the amenities that come with newly constructed
communities like those at Brentwood and Westbrook Lake," said Mike
Kelly, Head of Real Estate Americas at J.P. Morgan Global
Alternatives. "These new communities represent our sixth and
seventh completed single-family communities in partnership with
American Homes 4 Rent, providing our investors with exposure to a
growing segment of the residential real estate market in the
U.S."
"We continue to witness the suburban renaissance for America's
families, which further reinforces the strategic foresight of our
partnership with J.P. Morgan Global Alternatives to develop new
built-for-rent communities," said Christopher Lau, Chief Financial Officer at
American Homes 4 Rent. "Our pioneering AMH Development program is
delivering innovative, well-located rental home communities such as
Brentwood and Westbrook Lake as we
meet the increasing demand for our product and build upon our
leadership position in the industry."
Brentwood
Brentwood
is AH4R's seventh new rental home community in the Charlotte market, adding 234 homes built and
operated by AH4R to its existing portfolio of more than 3,800 homes
in the Charlotte area.
Brentwood is among the largest
communities built by AH4R to date and will be constructed in
multiple phases. The first phase features three-, four- and
five-bedroom homes ranging in size from approximately 1,900 to
3,000 square feet. Pricing starts from the $1,800s per month.
Brentwood's expansive onsite
amenities will include a clubhouse, fitness center, co-working
space and resort style pool for resident enjoyment. Additional
information about the community – including floorplans, pricing and
availability – is available at ah4rc.com/brentwood or at (704)
323-7716.
Westbrook Lake
Westbrook Lake marks the 11th new
community built and operated by AH4R in the Atlanta market, joining an existing portfolio
of more than 4,900 homes in the Atlanta area. This 95-home community features
three-, four- and five-bedroom homes ranging in size from
approximately 2,000 to 3,200 square feet. Pricing starts from the
$2,000s per month.
Westbrook Lake will offer high-end amenities including a
clubhouse and pool located within the community. Prospective
residents can visit ah4rc.com/westbrooklake or call (678)
712-4266 to learn more about floorplans, pricing and
availability.
Similar to other communities developed by AH4R, all homes at
Westbrook Lake and Brentwood are
designed with open concept floorplans, granite countertops,
stainless-steel appliances, luxury vinyl plank flooring, elegant
bathrooms, quality fixtures, central heating and air conditioning,
and two-car garages.
In addition to the upscale finishes our residents appreciate,
all homes at Brentwood and
Westbrook include lawn care and pet-friendly fenced yards.
These well-located neighborhoods provide residents with quick
access to local job centers, strong school, shopping, dining and
entertainment.
About American Homes 4 Rent
American
Homes 4 Rent (NYSE: AMH) is a leader in the single-family home
rental industry and "American Homes 4 Rent" is a nationally
recognized brand for rental homes, known for high-quality, good
value and tenant satisfaction. We are an internally managed
Maryland real estate investment
trust, or REIT, focused on acquiring, developing, renovating,
leasing and operating attractive, single-family homes as rental
properties. As of December 31, 2020,
we owned 53,584 single-family properties in selected submarkets in
22 states.
Additional information about American Homes
4 Rent is available on our website at www.ah4r.com.
About J.P. Morgan Global Alternatives and Real Estate
Americas
J.P. Morgan Global Alternatives is the alternative
investment arm of J.P. Morgan Asset Management. With more than 50
years as an alternatives investment manager, $163 billion in assets under management and more
than 600 professionals (as of December 31,
2020), we offer strategies across the alternative investment
spectrum including real estate, private equity and credit,
infrastructure, transportation, liquid alternatives, and hedge
funds. Operating from offices throughout the Americas, Europe and Asia
Pacific, our 14 independent alternative investment engines
combine specialist knowledge and singular focus with the global
reach, vast resources and powerful infrastructure of J.P. Morgan to
help meet each client's specific objectives. Real Estate Americas,
with $63 billion in assets under
management, leverages 50 years of real estate investment experience
across a 200-plus member team to deliver local expertise across
strategies, sectors, regions and complex transactions.
About J.P. Morgan Asset Management
J.P. Morgan
Asset Management, with assets under management of USD 2.5 trillion (as of 31
March 2021), is a global leader in investment management.
J.P. Morgan Asset Management's clients include institutions, retail
investors and high net worth individuals in every major market
throughout the world. J.P. Morgan Asset Management offers global
investment management in equities, fixed income, real estate,
hedge funds, private equity and liquidity.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $3.7
trillion and operations worldwide. The Firm is a leader in
investment banking, financial services for consumers and small
businesses, commercial banking, financial transaction processing,
and asset management. A component of the Dow Jones Industrial
Average, JPMorgan Chase & Co. serves millions of customers in
the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan Asset Management is the marketing name for the asset
management businesses of JPMorgan Chase & Co., and its
affiliates worldwide.
Contacts:
American Homes 4 Rent:
Media Relations
Megan Grabos
Phone: (805) 413-5088
Email: media@ah4r.com
J.P. Morgan Asset Management:
Media Relations
Sam Wallman
Phone: (917) 213-3398
Email: sam.wallman@jpmorgan.com
American Homes 4 Rent – Forward-Looking
Statements
This press release contains "forward-looking
statements" that relate to beliefs, expectations or intentions and
similar statements concerning matters that are not of historical
fact and are generally accompanied by words such as "believe,"
"expect," "will," "intend," "anticipate" or other words that convey
the uncertainty of future events or outcomes. The Company has based
these forward-looking statements on its current expectations and
assumptions about future events. While the Company's management
considers these expectations to be reasonable, they are inherently
subject to risks, contingencies and uncertainties, most of which
are difficult to predict and many of which are beyond the Company's
control. Additional information about these and other important
factors that may cause our actual results to differ materially from
anticipated results expressed or implied by these forward-looking
statements is available in the Company's most recent Annual Report
on Form 10-K and other reports filed with the Securities and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statement to conform to actual results or
changes in expectations, except as required by applicable law.
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SOURCE American Homes 4 Rent