Oct 2015: Colony Capital's lending subsidiary, Colony American Finance (CAF), has securitised multiple loans secured by mortgages over multiple SFR properties. This type of securitisation is distinct from the SFR securitisations seen earlier by Blackstone, American Homes 4 Rent, and Colony where the security was a single loan (therefore to one borrower) over multiple properties.
In this offer, CAF has made loans to many SFR investors (who ask CAF for funding) that it has then securitised. According to costar.com:
"Colony American Finance 2015-1 is $252 million multi-borrower SFR securitization collateralized by 69 fixed-rate loans secured by first priority mortgages on 4,140 rental units in 3,488 income- producing single-family, 2-4 family, and multifamily properties, Kroll Bond Rating Agency noted in presale report The properties have a total value of $403.5 million, Morningstar noted in its presale report. Colony American Finance has originated all of the loans, and the properties have an average monthly rental payment of approximately $971, Morningstar said"
Details here