Haven & JP Morgan Launch $415M JV for BTR Communities

El Segundo, CA-based Haven Realty Capital and institutional investors advised by J.P. Morgan Global Alternatives have formed a partnership to acquire and develop build-to-rent (BTR) communities throughout the U.S. The $415 million joint equity venture will provide long-term capital for Haven to continue to execute its business plan in the BTR space, working with homebuilders.

“The for-sale housing market has been significantly hampered by recession fears, inflation and rising interest rates, placing a burden on homebuilders,” said Haven Founder Sudha Reddy. “This partnership will allow us to continue working with homebuilders who are becoming increasingly comfortable selling entire communities to operators like Haven to lease to residents who want to live in a home but can’t afford to buy or prefer to rent.”

Initial seed investments for the joint venture will include three communities located in Atlanta MSA representing nearly 250 homes, with expected closings in the next 90 days.