December 2020 – Page 4

American Homes 4 Rent Purchases 55 Acres to Build 198 Homes

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American Homes 4 Rent and Etowah Land Partners announced today that AH4R recently acquired 55 acres of undeveloped land at Etowah Shoals Village, a mixed-use, multi-generational development in Canton, Ga. AH4R has commenced land development on the site and will invest approximately $50 million in developing River Ridge, a 198 single-family rental home community that will include a neighborhood amenity center, pool and fitness facility. River Ridge will be located adjacent to River Pointe Parkway and I-575 at Exit 20. “Cherokee County is the fastest growing county in metropolitan Atlanta and we have accomplished our goal to provide well-priced housing in a ‘LIVE, WORK, PLAY’ community with the sale to American Homes 4 Rent,” says Jeff Johnson, Managing Partner of Etowah Land Partners. “We anticipate the Phase II commercial corridor to provide mixed-use service, retail and office to serve the new budding community.” “American Home 4 Rent’s new home development program invests in local communities in key markets across the country,” said Jack Corrigan, Chief Investment Officer for AH4R. “We are pleased to bring our innovative River Ridge community to the vibrant Etowah Shoals Village as we expand our presence in the Atlanta area.”

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As part of its strategy to advance its Real Estate Solutions Center and future business plans, real estate tech innovator Offerpad, based in Phoenix, Arizona, announced the expansion of its Executive Team. David Connelly, previously with Citigroup, joins Offerpad as the company’s new Chief Growth Officer, and from Taylor Morrison Home Corporation, Ben Aronovitch has been hired as its new Chief Legal Officer. “With the addition of David and Ben, we’ve made the best real estate team in the world even better,” said Offerpad Founder and CEO Brian Bair. “Their extensive expertise and past experience will help move Offerpad through the next exciting phase of our growth and development. Connelly now runs growth initiatives for the flourishing real estate tech company. His responsibilities include launching new revenue channels, assisting with capital markets opportunities, and helping to lead strategic partnerships for the company. As Offerpad’s new CLO, Aronovitch will lead the company’s legal, compliance and risk management functions. “Offerpad is a strategy-driven and forward-thinking company. I’m pleased to be coming on board at such a pivotal moment in the company’s development,” said Aronovitch.

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Since the start of the pandemic, the number of fraudulent listings posted on the internet has been on the rise. Local authorities, Better Business Bureau’s local offices, and real estate companies warn renters looking for apartments to be extra diligent in their search and educate themselves on how to protect against rental scams. To this end, apartment search website RENTCafe.com came up with a helpful tool for renters that combines descriptions with practical advice and resources for reporting scams, as well as insight from experts. Renters navigating the internet for apartment listings often come across hijacked ads; requests to wire money up-front and without signing a contract; payment for a credit check; and the absence of any type of screening process. To avoid these scams, renters should look for verified listings, which come directly from property managers or owners. Additionally, when coming across suspicious listings, renters can do a reverse Google search by image and check other websites where that apartment is listed to find the original source. “As an apartment search website with 100% verified listings directly from property managers, we know the importance of a safe and worry-free experience for finding a home,” said Esther Bonardi, vice president of marketing at Yardi.