SimplyHome Secures $255-Million Credit Facility for Texas Portfolio of Built-to-Rent Homes
Summary
HOUSTON, July 27, 2023 /PRNewswire/ -- Houston-based SimplyHome, one of the nations largest operators of new, single-family rental homes, has secured a $225-million credit facility to refinance an initial portfolio of its properties in Houston, Dallas/Fort Worth, San Antonio and Bryan/College Station.Financing was arranged by JLL Capital Markets to secure the bridge facility through Churchill Real Estate Holdings.SimplyHome was represented by Vice President of Finance Colleen Castroman, Finance Associate Chris Cassidy, Financial Analyst Mitchell Brandt, and Associate General Counsel & Secretary Kafah Bachari. "By considering different options and being receptive to new ideas, the team demonstrated a willingness to think outside the box and find the best solution for the company. "SimplyHome is the pioneer of quality, built-to-rent single-family homes for those in need of innovative housing solutions that meet their budget, lifestyle and standards.By revolutionizing the single-family rental market, SimplyHome has brought the experience of home within reach. Today, more than 50,000 residents enjoy the companys high-quality, affordable new homes.About SimplyHomeLaunched in 2012, SimplyHome pioneered the Built-to-Rent (BTR) industry. Inspired by our purpose to OPEN DOORS, we focus on expanding access to opportunity, creating value and providing a simple process to find a place to call home.