Nearly 9,000 SNL-covered real estate properties in Hurricane Harvey’s path
August 25, 2017 | Chris Hudgins | SNL.com
More than 8,800 SNL-covered real estate properties lie in Hurricane Harvey’s projected five-day path. Single-family rental homes comprise the largest category of properties potentially affected, followed by single-tenant retail.
Current projections show the hurricane, rated a Category 3 as of press time, making landfall early Saturday morning on Texas’ gulf coast near Corpus Christi. The storm is expected to bring storm surge and flooding from heavy rainfall, and is expected to stay over the Texas coast for about 48 hours before turning north up the coast.
Single-family housing REITs in the aggregate own the most properties in the path of the storm. American Homes 4 Rentowns 5,079 homes in the area, representing 10.5% of its total portfolio, and Reven Housing REIT Inc. owns 264 homes, comprising about 35% of its total portfolio, the largest portfolio exposure among the top 20 companies with the largest number of potentially affected properties.
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