Single Family Rental. Redefined.
Single Family Rental. Redefined.
Welcome to HomeSpaceUSA
HomeSpaceUSA is a platform to acquire and manage single-family rental ("SFR") properties. Our team has deep experience in the SFR industry and is led by George Ellison, Ercan Gurhan and other former executives from Front Yard Residential Corporation “Front Yard,” an NYSE-listed SFR REIT that was taken private in 2021.
Meet the Team
GEORGE G. ELLISON, CEO
STEPHEN GRAY, GENERAL COUNSEL
GEORGE G. ELLISON, CEO
Mr. Ellison served as the Chief Executive Officer of Front Yard from June 2015 to May 2021. George Ellison also served as Chief Executive Officer of Altisource Asset Management Corporation from February 2015 to December 2020, and as Chairman of AAMC between June 2015 and December 2020, when Front Yard separated from AAMC as its asset ma
Mr. Ellison served as the Chief Executive Officer of Front Yard from June 2015 to May 2021. George Ellison also served as Chief Executive Officer of Altisource Asset Management Corporation from February 2015 to December 2020, and as Chairman of AAMC between June 2015 and December 2020, when Front Yard separated from AAMC as its asset manager in order to complete Front Yard’s going private merger transaction.
Prior to joining Front Yard and AAMC, Mr. Ellison was employed for 19 years at Bank of America and its predecessor, NationsBank. Mr. Ellison held several roles over his career at Bank of America, most recently being the executive leading the team that managed the valuation and disposition of Bank of America’s legacy mortgage loan portfolio and a leading member of Bank of America’s Special Initiatives team that worked to resolve Bank of America’s representation and warranty litigation. Prior to these roles, Mr. Ellison was Global Head of the Structured Products division within Bank of America’s Investment Banking platform. His responsibilities involved all Structured Products including RMBS, ABS, ABCP Conduit, and CMBS securities, among others.
Mr. Ellison holds a Bachelor of Science in Industrial Engineering from the University of Pittsburgh and a Master of Business Administration from the Wharton School of Business.
ERCAN GURHAN, COO
STEPHEN GRAY, GENERAL COUNSEL
GEORGE G. ELLISON, CEO
Mr. Gurhan served as COO of Front Yard from July 2015 to May 2021 and as COO of AAMC’s U.S. management subsidiary until the Front Yard separation transaction. His responsibilities included identifying and evaluating investment opportunities, executing transactions and overseeing ongoing operations for Front Yard . In addition to leading
Mr. Gurhan served as COO of Front Yard from July 2015 to May 2021 and as COO of AAMC’s U.S. management subsidiary until the Front Yard separation transaction. His responsibilities included identifying and evaluating investment opportunities, executing transactions and overseeing ongoing operations for Front Yard . In addition to leading the property acquisition program, he managed design and improvement efforts related to property management operations and information technology/business intelligence systems.
Prior to joining Front Yard and AAMC, Mr. Gurhan worked at Bank of America under the leadership of Mr. George Ellison, strategizing and executing disposition strategies related to Bank of America’s legacy mortgage loan portfolio. Prior to this role at Bank of America, Mr. Gurhan was a senior member of the Cross Asset Strategies team at Bank of America, managing the quantitative modelling process for building asset allocation, asset-liability, and hedging solutions for sovereign wealth funds, large pension funds and asset managers, as well as building balance sheet management solutions for mid-tier banks through individual asset and liability level valuation processes.
Prior to his Bank of America career, Mr. Gurhan worked at Wachovia Securities, initially as a structurer and later as a trader of structured transactions backed by sub-prime mortgage loans focusing on credit default swaps on asset-backed securities. Prior to Wachovia he worked as the leader of the quantitative team at Morgan Keegan’s Atlanta Consulting Team, which provided Investment Management Consulting services including asset allocation, asset liability management, fund and manager selection and performance monitoring for over $10 billion of institutional assets.
Mr. Gurhan holds a Bachelor of Science degree in Industrial Engineering from the Bilkent University and a Masters of Business Administration from Georgia State University.
STEPHEN GRAY, GENERAL COUNSEL
STEPHEN GRAY, GENERAL COUNSEL
STEPHEN GRAY, GENERAL COUNSEL
Mr. Gray served on the executive team of Front Yard from 2012 through 2021, first as its General Counsel and Corporate Secretary from 2012 to 2016 and then as its Chief Administrative Officer and Senior Counsel. Mr. Gray also concurrently served as the General Counsel and Corporate Secretary of Altisource Asset Management Corporation, t
Mr. Gray served on the executive team of Front Yard from 2012 through 2021, first as its General Counsel and Corporate Secretary from 2012 to 2016 and then as its Chief Administrative Officer and Senior Counsel. Mr. Gray also concurrently served as the General Counsel and Corporate Secretary of Altisource Asset Management Corporation, the public asset manager that managed Front Yard, from 2012 through 2020. Prior to joining Front Yard and AAMC, Mr. Gray was General Counsel and Corporate Secretary of LaBranche& Co Inc., a public financial services, trading and market making company in New York, New York, from 2004 through 2011. From 1998 to 2004, Mr. Gray was a corporate and securities attorney at the law firm of Norton Rose Fulbright L.L.P. in New York, New York, specializing in, among other things, securities offerings, mergers and acquisitions and general corporate reporting for public and private companies. From 1996 to 1998, he was a corporate and securities attorney at the law firm of Brock, Silverstein & McAuliffe, LLC, in New York, New York. He holds a Bachelor of Arts in History from Hobart College and a Juris Doctorate from Widener University School of Law.
ERDEM ERTAY, CTO
DIPAN ROUT, HEAD OF INDIA
STEPHEN GRAY, GENERAL COUNSEL
Mr. Ertay served as VP of Information Technology of Front Yard between Nov 2018 and July 2021 with responsibilities of building a new internal Information Technology team in India to manage physical and cloud IT infrastructure, maintain existing business critical IT systems operations and lead new application development processes. During
Mr. Ertay served as VP of Information Technology of Front Yard between Nov 2018 and July 2021 with responsibilities of building a new internal Information Technology team in India to manage physical and cloud IT infrastructure, maintain existing business critical IT systems operations and lead new application development processes. During this period, Mr. Ertay led 2 major IT infrastructure migrations from legacy systems in Havenbook and ASPS to cloud systems in Front Yard. In addition, Mr. Ertay led the efforts to create a cutting-edge IT security infrastructure at Front Yard. Prior to joining Front Yard, Mr. Ertay has served as General Manager of Mobiltel Telekommunikasyon AS in Istanbul, the largest IT and mobile communications distributor within Turk Telekom infrastructure with roughly $500 million USD annual revenues between 2015 and 2018. Prior to Mobiltel, Mr. Ertay has created and managed his own startup between 2005 and 2015 after serving as the Country Manager for Motorola Inc. in Turkey between 1996 and 2005 where he led Motorola’s mobile communications group with over 300 mil USD /year revenues. Mr. Ertay holds a Bachelor of Science degree in Electronics Engineering from Bilkent University and Masters of Business Administration from University of Illinois at Urbana-Champaign.
DIPAN ROUT, HEAD OF INDIA
DIPAN ROUT, HEAD OF INDIA
DIPAN ROUT, HEAD OF INDIA
Mr. Rout has served as the Director, Enterprise Applications for Front Yard since Sep 2016. Mr. Rout was responsible to oversee all IT functions pertaining to operations for Front Yard’s India subsidiary, River Business Solutions. His work role included the complete IT Infra setup for India, ERP Implementation and Application Management
Mr. Rout has served as the Director, Enterprise Applications for Front Yard since Sep 2016. Mr. Rout was responsible to oversee all IT functions pertaining to operations for Front Yard’s India subsidiary, River Business Solutions. His work role included the complete IT Infra setup for India, ERP Implementation and Application Management for Front Yard. Prior to his appointment, Mr. Rout held several positions at Altisource in Bangalore where he worked extensively on the projects for the inception of Altisource Asset Management. Mr. Rout has also worked on mainframe technologies in banking domain in Cognizant Technology Solutions. Mr. Rout has a Bachelor’s degree in Technology and Master’s degree in Business Administration from Indian Institute of Management, Kozhikode.
Our Services
One-By-One Acquisitions
Our One-By-One (“OBO”) purchasing strategy involves acquiring SFR properties via the MLS and other off-market sources such as iBuyers and flow acquisition partners. We leverage internally developed technology as well as third-party platforms and relationships.
Bulk Portfolio Acquisitions
Bulk portfolio acquisitions are intermittent opportunities to scale an SFR portfolio quickly with a single transaction or group of transactions. Our team has significant experience in the evaluation, diligence and successful completion of these transactions, having acquired approximately 12,000 SFR homes using the bulk acquisition strategy to build the substantial Front Yard portfolio.
Built-To-Rent Projects
Build-To-Rent ("BTR") projects provide opportunities to scale in a single transaction, though likely at smaller quantities relative to bulk acquisitions. Typically, BTR opportunities require long lead times for the properties to become part of the rental portfolio. Depending on the land development stage entered, the lead time could range from 9 to 36 months.
Property Management
We believe that efficient property acquisition and property management operations are the backbone of successful SFR investments and can be achieved by an optimized combination of people, processes, technology and third-party resources.
REACH OUT
REACH OUT
HomeSpaceUSA
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Saturday-Sunday: Closed
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