MORE Residential and Stockbridge’s US single-family rental communities joint venture has acquired a newly built 200-home community.
The joint venture’s Covey Homes by MORE brand has paid an undisclosed sum to buy Cottages at Lexington in Athens, Georgia. The asset has been renamed Covey Homes Lexington.
With the acquisition, Covey Homes by MORE now owns and manages 10 single-family communities in the Southeast of the US.
Mark Alfieri, CEO of MORE Residential, said: “With its superb location and the quality of design, construction and amenities, Covey Homes Lexington offers the type of unique home-rental experience that defines the Covey Homes by MORE brand.”
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