In 2017, the single-family rental (“SFR”) asset class made further progress towards being widely-recognized as an institutional investment – below are some of the key takeaways and market trends addressed in our commentary article: Increasing capital flows – in 2017, SFR purchases by institutional investors increased over the previous year for the first time since 2013 – increased investor activity is pushing capital into the SFR space and validating its longevity as an alternative asset class for investors. Consolidation across large institutional owners – these developments have led many companies to consolidate their SFR portfolios. Mergers and portfolio acquisitions open up potential cost synergies for acquirers, and grant additional scale to the remaining operators in the SFR sector. Government sponsored enterprises (“GSEs”) launch pilot deals backing SFR – in early 2018, Freddie Mac joined Fannie Mae in guaranteeing loans on institutionally-owned SFRs. The introduction of the two major government-backed financiers indicates broader acceptance and the availability of more financing options in the SFR market.