CALABASAS, Calif., April 13, 2021 /PRNewswire/ -- American
Homes 4 Rent (NYSE: AMH), a leading provider of high-quality
single-family homes for rent, announced today that it recently
closed on 94 acres in northeast St.
Cloud, Fla., and plans to develop a new community named
Pine Grove that will feature 279
single-family homes for lease with extensive community
amenities.
This marks the fourth significant land transaction by AH4R in
the Orlando market in recent
months. When combined with other recent purchases in Apopka, Mascotte and St.
Cloud, AH4R has added more than 600 lots to its new
development pipeline in the Orlando market.
"This is another excellent example of AMH Development in action.
Our unique ability to grow our portfolio through development of new
communities really sets our company apart," said Zack Johnson, Executive Vice President of
Acquisitions & Development for AH4R. "Our AMH Development
capability provides clear visibility to predictable, high-quality
portfolio growth for years into the future."
Pine Grove will feature three-,
four- and five-bedroom homes ranging in size from approximately
1,600 to 2,500 square feet. The community's extensive onsite
amenities will include a clubhouse, fitness center, casual
workspace and a resort style pool for resident enjoyment. The
neighborhood will provide residents with quick access to schools,
local job centers, dining, shopping and entertainment options. Land
development activities will soon begin and Pine Grove plans to welcome its first
residents in 2023.
"Pine Grove will be a
compelling and attractive new housing choice for those looking to
enjoy all the benefits of single-family community living, with the
flexibility and low maintenance lifestyle of leasing," said
Brent Landry, Senior Vice President
of Development for AH4R. "Pine
Grove will be a tremendous addition to our existing
portfolio of homes in the greater Orlando area."
The 94 acres of undeveloped land was previously owned by Larson
Brothers Inc.
"We're excited to complete this transaction with American Homes
4 Rent and watch them develop another new single-family rental home
community in fast-growing Osceola
County," said Gary and Randy
Larson of Larson Brothers Inc. "We owned the property for
many years and had to overcome significant obstacles to get to this
point. American Homes 4 Rent is an ideal partner with a dedicated
team that worked countless hours to help close this deal."
AH4R currently has a portfolio more than 1,700 units in the
Orlando market, where its four new
home communities include Celery Cove, Crestridge at Leesburg, Sedona and Zarabrooke.
Visit us at www.ah4r.com to learn more about floorplans,
pricing and availability of communities and homes in the
Orlando area.
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) is a leader in the
single-family home rental industry and "American Homes 4 Rent" is a
nationally recognized brand for rental homes, known for
high-quality, good value and tenant satisfaction. We are an
internally managed Maryland real
estate investment trust, or REIT, focused on acquiring, developing,
renovating, leasing and operating attractive, single-family homes
as rental properties. As of December 31,
2020, we owned 53,584 single-family properties in selected
submarkets in 22 states.
Additional information about American Homes 4 Rent is available
on our website at http://www.ah4r.com.
Contact:
American Homes 4 Rent
Media Relations
Megan Grabos
Phone: (805) 413-5088
Email: media@ah4r.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/american-homes-4-rent-to-build-279-home-pine-grove-community-in-st-cloud-florida-301267233.html
SOURCE American Homes 4 Rent