Five Ten Capital, an asset manager that specializes in fixed income and real estate markets, closed a $100 million financing facility with Deutsche Bank that is backed by mortgages on rental homes, with an eye towards longer term financing for its portfolios of these properties.

The asset manager said in a press release that it will use the facility as warehouse financing for its single-family residential rental property acquisitions until it is able to arrange a securitization in the MBS market.  Five Ten currently has 3 funds that purchase single-family rentals and offers rental homes in 7 states across the Southeast, Midwest, and Western regions of the country.

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