As head of American Housing Income Trust, Sean Zarinegar leads a public firm focused on the acquisition, management, and disposition of quality homes throughout the greater Phoenix area. In its previous incarnation as privately held American Realty Partners, Sean Zarinegar pursued the opportunistic strategy of acquiring distressed single-family home rentals and actively managing them as the market took an upward trajectory.
In August of 2015, Sean Zarinegar’s company announced its acquisition of nine single-family homes, with five of them situated in the attractive Tucson market. With each property averaging 1900 square feet, the total price of the transaction was $1.7 million. Six of the properties had one-year leases ongoing, while the others had multi-year leases.
Mr. Zarinegar emphasized that the acquisition brought the firm significantly closer to strategic objectives, with the move bolstering its portfolio to 43 homes spanning Texas, Nevada, and Arizona. Disclosed with the Securities and Exchange Commission, the transaction was particularly important in setting a template for 721 tax-deferred exchanges to go forward.
Full news of the AHIT acquisition can be accessed at http://www.prnewswire.com/news-releases/american-housing-income-trust-acquires-9-additional-homes-300123460.html.
