Invesco is separately leading a $40 million financing round for Mynd. Bloomberg | Jun 01, 2021
(Bloomberg) Funds managed by Invesco Real Estate are backing Mynd Management to spend as much as $5 billion, including debt, purchasing about 20,000 single-family rental homes in the U.S. in the next three years.
The partnership marks a “significant moment” for the single-family rental industry, Doug Brien, chief executive officer and co-founder of Mynd, said in an interview. More than half of the country’s multifamily properties are owned by institutional investors compared with an estimated ownership of 2% to 3% of single-family rentals, a gap that he expects to narrow in time.