The real estate investment platform backed by Amazon.com Inc (NASDAQ: AMZN) founder Jeff Bezos has continued ramping up its acquisitions of single-family rental homes in several U.S. markets.
Arrived Homes acquires single-family homes to use as rental properties, then sells shares of these properties to investors through its online platform. The demand for rental property shares has grown exponentially so far in 2022, with more homes funded in July than the entire first quarter.
The company has investment properties in 19 of the top 100 cities for population growth in the U.S. and estimates that it will expand to 40 of the top 100 cities by the end of the year. Most recently, Arrived Homes expanded into Nashville, Cincinnati and Indianapolis.
The investment platform is now able to take advantage of the cooling-down period in the housing market to ramp up its purchases at a time when a growing number of investors are looking for alternative investment options outside of the stock market.
Arrived is the first SEC-qualified real estate investing platform that allows virtually anyone to buy shares in single-family rental properties with investment amounts ranging from $100 to $10,000 per property.
The company acquires rental homes and allows individual investors to become owners of the properties by purchasing shares through the platform. Arrived Homes manages the assets, while investors collect passive income through quarterly dividends in addition to earning a return through appreciation.
The company quickly gained the attention of several high-profile investors during its seed round in 2021, getting investments from Jeff Bezos, through Bezos Expeditions, Salesforce.com Inc (NYSE: CRM) founder Marc Benioff through Time Ventures, former Zillow Group Inc (NASDAQ: Z) CEO Spencer Rascoff and Uber Technologies Inc (NYSE: UBER) CEO Dara Khosrowshahi.
Bezos later followed up on that investment during Arrived Homes’ $25 million series A round earlier this year, making a second investment in the real estate investing platform.
Investors have a growing appetite for single-family homes, which is no surprise considering that the average rent in the U.S. has increased by an average of 16.4% in the past 12 months and as high as 32% in markets like Miami over the same period.
While the housing market is beginning to cool down in certain areas, homeownership is becoming even less affordable as higher interest rates are adding to the overall cost of buying a home. This is likely to continue adding strain to the supply of rental units, resulting in further rental rate increases.
Find real estate investment offerings from companies like Arrived Homes with Benzinga’s Offering Screener and filter investment opportunities based on your criteria.
Photo: Courtesy of Arrived Homes
Original publication: July 26, 2022
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