Atlas Real Estate recently entered into a joint venture partnership with San Francisco-based DivcoWest to invest $250 million of equity in single-family homes (SFR) as rentals throughout the Western United States. The JV expects to deploy $1 billion acquiring and renovating homes in high-growth states including Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.

“The new partnership between Atlas and DivcoWest enables us to live up to our mission as a company:

‘To Uplift Humanity Through Real Estate,’” says Tony Julianelle, CEO of Atlas Real Estate. “The joint venture will function to increase the inventory of single-family rentals in Atlas-managed markets, presenting a tangible opportunity to serve people and create a positive resident experience while helping meet the supply demands by providing high-quality housing.”

The start of this new joint venture also points to the strength of the SFR housing sector and to the full-service real estate investment platform Atlas has created, says Ryan Boykin, co-founder of Atlas Real Estate.

“DivcoWest’s partnership with Atlas is a testament to our decade-plus history as an acquisition partner and the long-standing relationships we have cultivated with institutional investors since our inception,” explains Boykin.