Dechert Advises on Nine of the Top 10 SFR Deals in 2021 YTD

As of October 2021, Dechert has acted as issuer’s counsel on nine out of the top 10 single-family rental (SFR) deals in 2021, according to Trepp, a leading provider of data and analytics for the industry. 2021 has seen a record number of securitizations in the SFR sector, and Dechert is leading the way.

Dechert’s SFR experience dates back to 2012 when the firm began working with clients to develop their SFR lending and securitization platforms. Dechert has since advised numerous clients in connection with a variety of complex SFR transactions, including warehouse facilities, term loans, mezzanine loans, single-borrower securitizations and multi-borrower securitizations.

Representative SFR work highlights this year include advising:

• Progress Residential, as issuer, in connection with ten announced SFR deals, totaling over US$6 billion in issuance.
• FirstKey Homes, as issuer, in connection with three announced SFR deals, totaling over US$3.2 billion in issuance.
• CoreVest, as issuer, in connection with four announced SFR deals, totaling over US$1.15 billion in issuance.

About Dechert's Global Finance Practice

Dechert’s global finance practice provides a responsive, interdisciplinary, multi-jurisdictional team to address the complexities of modern finance transactions across categories and geographies. With more than 170 lawyers in the world’s major financial centers, our internationally recognized practice provides clients with innovative deal structuring, creative financing strategies and efficient execution. Our clients receive comprehensive solutions for all of their finance needs. By tapping into the breadth of Dechert’s expertise, we deliver advice on real estate finance, structured finance, leveraged finance and securitization matters.

About Dechert

Dechert is a leading global law firm with 22 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.