Colony American Becomes Lender to Other Housing Landlords
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Colony American Homes Inc., a single-family rental company founded by Thomas Barrack Jr., is starting to lend to other landlords.
The Scottsdale, Arizona-based firm, which has about 15,000 houses, began offering loans in July and is targeting rental-property owners seeking $5 million to $10 million in financing, said Todd Sammann, who runs Colony’s single-family lending arm. The company intends to originate as much as $2 billion in debt during its first year, with potential to do more, including loans of as much as $100 million, he said.