Tricon Capital Group, the latest entrant in the single-family rental securitization market, offers investors greater exposure to two unusual types of collateral: Section 8 homes and condominiums.

Section 8 homes, which are federally assisted housing designed for low-income renters, account for 14% of the transaction pool, according to Morningstar, which is rating the deal. No long-term history with respect to tenant management and cost containment has yet been established among these Section 8 tenants.

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