Magnolia Capital Forms Single Family Home Joint Venture With Principal Real Estate Investors
Seeking to leverage its single family home platform, Magnolia Capital has formed a new joint venture with Principal Real Estate Investors to acquire, renovate and operate single-family rental homes throughout the United States.
Magnolia Capital’s single-family brand, National Home Rentals, NHR, will pursue homes on behalf of the joint venture with the goal of acquiring 1,000+ homes per year, building a diversified, national portfolio in target markets that have strong underlying supply and demand characteristics.
“Our vision for the single-family rental sector is consistent with our approach in multifamily—to embrace a data-driven, customer first approach that allows us to create a differentiated product for our residents and compelling results for our investors. We are thrilled to partner with Principal Real Estate Investors, a thoughtful investor that shares our conviction for this unique investment opportunity within the asset class,” said Max Peek, Founder, CEO & Managing Principal at Magnolia Capital.
NHR’s proprietary single-family technology platform streamlines the acquisitions process while providing a dedicated all-in-one property management software solution.
“We are eager to leverage our longstanding single-family rental operating expertise and innovative proprietary technology on behalf of the partnership with the exceptional team at Principal,” said Dan Bednyak, President & Principal at National Home Rentals, and Managing Director of SFR at Magnolia Capital.
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