Sign me up now for full access.Subscribe
Take a free trial (including email alerts).Register
Get help from customer service.Inquire

Alaska Permanent Fund Adds to Existing Investment


 

Alaska Permanent Fund Adds to Existing Investment
The Alaska Permanent Fund Corporation (APFC) Board of Trustees has placed an additional $200 million with an existing manager overseeing a single-family homes strategy, the agency announced Monday.
The Juneau-based APFC previously made an initial investment of $400 million in the vehicle in May, it said in its Nov. 5 statement. The strategy is managed by American Homes 4 Rent.
The Malibu, Calif.-based purchases foreclosed homes and manages them as rental properties. Investments made by APFC provides capital for the acquisition of these properties, but the fund is not directly involved in the purchase or management process, it explained in the announcement.
“The Board and staff are pleased with the progress American Homes 4 Rent is making in purchasing homes across the lower 48 states for use as rental properties,” Michael Burns, CEO at APFC, said in the statement. “We have confidence in the process that they are using, and the Board felt at this time that it made sense to make an additional allocation to the program.”

The Alaska Permanent Fund Corporation (APFC) Board of Trustees has placed an additional $200 million with an existing manager overseeing a single-family homes strategy, the agency announced Monday.

The Juneau-based APFC previously made an initial investment of $400 million in the vehicle in May, it said in its Nov. 5 statement. The strategy is managed by American Homes 4 Rent.

The Malibu, Calif.-based purchases foreclosed homes and manages them as rental properties. Investments made by APFC provides capital for the acquisition of these properties, but the fund is not directly involved in the purchase or management process, it explained in the announcement.

“The Board and staff are pleased with the progress American Homes 4 Rent is making in purchasing homes across the lower 48 states for use as rental properties,” Michael Burns, CEO at APFC, said in the statement. “We have confidence in the process that they are using, and the Board felt at this time that it made sense to make an additional allocation to the program.”

 


For more information on related topics, visit the following:

Video

Login to read the latest leads
Contact Us
Editor
Jakema Lewis
jakema.lewis@sourcemedia.com
(212) 803-8757
Associate Editor
Michael Giardina
michael.giardina@sourcemedia.com
(212) 803-8596
National Account Manager
Louis Fugazy
louis.fugazy@sourcemedia.com
212.803.8773