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Joint Venture Aims to Invigorate the Southeast’s Build-for-Rent Sector
SVN | SFR Capital Management, a private commercial real estate investment firm dedicated to the single-family build-for-rent sector, and RP Homes, a Southeast regional builder, have entered into a joint venture to acquire, lease and stabilize homes across the Southeast.
The partners plan to amass 250-1,000 homes annually in Tennessee, South Carolina, North Carolina and Georgia. More than 500 homes in Tennessee are already targeted to begin construction within 10-18 months.
“We’re excited to move forward and get more communities on the radar with our partnership with RP Homes, and other experienced builders throughout the country, that know local neighborhood markets where there’s community demand for rental housing,” said Jeff Cline, CEO of SVN | SFR Capital Management.
The Guild, a 92-townhome BFR community currently under construction with occupied units in Chattanooga, TN, is the portfolio’s inaugural asset. The two-, three- and four-bedroom floor plans have an average monthly rent range of $1,800-$2,300.
