American Homes 4 Rent Pays Tribute to Founder, B. Wayne Hughes
American Homes 4 Rent issued the following statement regarding the passing of the Company’s founder and former Chairman of the Board of Trustees, B. Wayne Hughes:
The entire American Homes 4 Rent community extends our deepest condolences to Wayne’s family and loved ones. Wayne’s accomplishments made him an iconic and visionary leader in the real estate industry. Over his long and successful career, Wayne created several groundbreaking ventures, including pioneering two important and thriving real estate sectors – self-storage with the founding of Public Storage (NYSE: PSA), the largest self-storage company in the world, and single-family rental (SFR) homes. He and his family also founded American Commercial Equities, a real estate management company with retail and office properties across California and Hawaii.
American Homes 4 Rent was founded in 2011 through Wayne’s vision of offering families across the United States more desirable and affordable housing choices. That vision revolutionized the homebuilding industry and his legacy now extends far beyond our company, as evidenced by the ever-growing multibillion-dollar SFR industry.
While Wayne distinguished himself over the course of 60 years as a real estate legend, he will also be remembered by those who knew him as a beloved family man and generous philanthropist. Wayne never overlooked the importance of his family, colleagues and community.
He earned a B.A. in Business from the University of Southern California and was a devoted Trojan throughout his life. He served on the university’s Board of Trustees and received an honorary Doctor of Business Administration degree in 2014. While his charitable contributions to the university remain private, the Los Angeles Times reported in 2019 that “it is a staggering generosity that has not previously been reported and ranks him among the most significant backers of higher education in the West.”
Wayne was an outstanding leader who had a relentless drive to better the world through philanthropy, giving his time and financial resources to cancer research with a focus on eradicating pediatric cancer through the establishment of the William Lawrence and Blanche Hughes Foundation.
On a personal level, Wayne’s passion was thoroughbred racing. His beloved Spendthrift Farm, a Kentucky-based thoroughbred stallion farm, is home to many champion horses including the 2020 Kentucky Derby winner Authentic.
Today, American Homes 4 Rent is defined by the vision that Wayne established. Across the organization, his spirit will continue to shape the way we operate and succeed in the years ahead.
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and “American Homes 4 Rent” is a nationally recognized brand for rental homes, known for high-quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing and operating attractive, single-family homes as rental properties. As of June 30, 2021, we owned 54,785 single-family properties in selected submarkets in 22 states.
Additional information about American Homes 4 Rent is available on our website at http://www.ah4r.com.
