Progress Residential is refinancing another securitization of single-family rental properties.

On Tuesday it launched a new transaction, Progress Residential 2016-SFR2, that will be collateralized by a single $623.5 million floating-rate loan secured by mortgages on 3,787 income-producing single-family homes of which 2,790 homes (74.3% by BPO) were previously securitized in the Progress 2015-SFR1 transaction. The “rollover” homes, represented 69.8% of that deal’s total asset count.

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