Single-family rental property, one of the most talked-about new asset classes in structured finance, appears to be undergoing a reassessment.  

The second-ever rental securitization may have gotten slightly higher marks from one credit rating agency, but investors judged Colony American Homes’ $513 million deal, which priced on April 3, more critically than they did the first such deal, which was completed by The Blackstone Group’s Invitation Homes in November 2013.

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