Progress Residential plans to tap the securitization market with a deal backed by a $438 million, five-year loan that pays only on interest, which is secured on a pool of 3,317 single-family rental homes.

With this latest transaction, called Progress Residential 2015-SFR2, the issuer will have a total of three securitizations outstanding, each structured with either a fully extend term of five years or a fixed term of five years.

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