Rockpoint is expanding its US single-family rental housing sector footprint via a $250m (€209m) investment partnership with Resicap.
The global real estate investment management firm said the joint venture with Resicap expects to acquire, renovate, and lease 4,500-5,000 single-family rental homes to residents of established suburban neighbourhoods in the southeast US, Florida, and Texas.
The new venture will expand Rockpoint’s footprint in the single-family rental sector to include a more diversified offering of price points and markets, complementary with Rockpoint’s recently announced $375m venture with Dallas-based Invitation Homes, the investment manager said.
Rockpoint co-founder Bill Walton said: “This joint venture is a natural extension of our 26-year history of providing high-quality rental housing in demand-driven markets throughout the US. We are pleased to partner with Resicap, a leading owner and operator in the single-family rental space.”
Resicap co-founder Lance Popp, said: “We are delighted to be joining forces with Rockpoint Group, a globally recognised real estate investor and manager who shares our commitment to the residential rental space.”
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