Fundrise Acquires Balcara at Balmoral as Part of Single-Family Rental Strategy

Fundrise recently acquired Balcara at Balmoral, a 163-home single-family detached rental neighborhood in Houston. The purchase price was undisclosed.

Fundrise acquired the 20-acre community from Houston-based Balcara Group and Dallas-based Montgomery Street Partners as part of its ongoing single-family rental strategy to acquire affordable homes in high-growth markets across the Sunbelt. Balcara at Balmoral is 100 percent leased.

“Balcara at Balmoral is an excellent opportunity for Fundrise and its investors to broaden our reach into the expanding single-family rental market,” said Ben Miller, Fundrise co-founder and CEO. “As we continue to acquire strategic portfolios across the Sunbelt and other high growth areas, Fundrise’s primary goal is to provide access to institutional-quality real estate for our more than 170,000 active investors.”