from SNL Real Estate Daily
American Homes 4 Rent-J.P. Morgan JV opens 2 new communities
Byline: Abdul Rehman Maqbool
American Homes 4 Rent opened two new single-family rental home communities totaling 329 units under its joint venture with J.P. Morgan Global Alternatives.
In Mooresville, N.C., the company opened the 234-unit Brentwood property, while in Cumming, Ga., it launched the 95-unit Westbrook Lake.
The companies previously outlined plans to invest $625 million to develop about 2,500 single-family rental homes in high-growth markets across the U.S. West and Southeast.
J.P. Morgan Global Alternatives is the alternative investment arm of JP Morgan Asset Management.