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New York & Tri-State  + Midtown New York  + Apartments  | 

GTIS Nears Exit from SFR Sector in Favor of Build-to-Rent

GTIS Partners, headquartered in Midtown Manhattan, has sold a 1,081-unit single-family-rental portfolio to an undisclosed buyer for approximately $300 million as it shifts to a build-to-rent model. The homes are located across the Atlanta and Nashville metro areas.

With the sale, GTIS has now completed the disposition of substantially all the homes it acquired in the wake of the global financial crisis. Over the past three and a half years, GTIS has sold 2,630 additional homes to institutional buyers for approximately $400 million. Another 376 homes have been sold or are in the process of being sold through retail channels.

Tom Shapiro, president and CIO at GTIS, said, “This sale represents an important milestone for our firm as we exit the first phase of our SFR platform and shift our focus to providing new, purpose-built rental product to a market that is in desperate need of new, high quality supply.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).