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AMH > SEC Filings for AMH > Form 8-K on 24-Apr-2014All Recent SEC Filings

Show all filings for AMERICAN HOMES 4 RENT

Form 8-K for AMERICAN HOMES 4 RENT


24-Apr-2014

Regulation FD Disclosure


Item 7.01 Regulation FD Disclosure

On April 24, 2014, American Homes 4 Rent (the "Company") included in a registration statement on Form S-11 (SEC File No. 333-194979) that was filed with the Securities and Exchange Commission the following estimates of certain financial and operating results for the quarter ended March 31, 2014:

Acquisition Activity

From January 1, 2014 through March 31, 2014, the Company acquired approximately 2,241 properties with an estimated total investment of approximately $361.8 million. Of these recently acquired properties, approximately 63% and 84% are located in the Company's top 10 and top 20 markets (based on total book value as of December 31, 2013), respectively. Approximately 47% of these properties acquired between January 1, 2014 and March 31, 2014 were purchased in foreclosure auctions and the balance through other acquisition channels. At March 31, 2014, the Company had approximately 532 properties in escrow with an estimated total investment of $86.5 million. The Company expects that its future level of acquisition activity will fluctuate based on the number of suitable investments and on the level of funds available for investment.

Leasing and Renovation Activity

From January 1, 2014 through March 31, 2014, the Company leased approximately 3,185 properties and made rent-ready approximately 2,605 properties. As of March 31, 2014, the Company's total number of leased properties was approximately 20,666, the Company's total portfolio occupancy rate was approximately 81% and the Company's 90+ days rent-ready portfolio occupancy rate was greater than 95%.

Borrowings on Credit Facility

From January 1, 2014 through March 31, 2014, the Company borrowed an additional $321 million under the credit facility and made payments on the credit facility totaling $25 million. On March 31, 2014, the credit facility had an outstanding balance of $671 million.

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