Home Partners of America (HPA) is a single-family housing investment platform launched in November 2012. It aims to provide households that cannot access mortgage credit a path to home ownership. The program allows approved clients to select homes, which HPA purchases and leases to them with a purchase option. Institutional investors like BlackRock and KKR have invested over $480 million in HPA. The investment targets unlevered cash returns above 6% and leveraged IRRs between 14-23%. The document discusses the market opportunity due to restricted mortgage credit access and outlines investment terms.
doj/DataSet10/EFTA01375237.pdf
{"key_people":["BlackRock","KKR"],"document_type":"correspondence","document_subtype":"investment summary","key_organizations":["Home Partners of America","Deutsche Asset & Wealth Management"],"reference_numbers":["DB-SDNY-0070518","SDNY_GM_00216702","EFTA01375237"]}