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RESICAP, Rockpoint Venture Aims to Acquire Additional $2.5B of SFRs
Atlanta, GA-based single-family rental services firm RESICAP and real estate private equity firm Rockpoint Group have committed to a series of follow-on joint ventures collectively targeting $2.5 billion of single-family rental home acquisitions. The firms initially formed a joint venture in October 2020 with the intent of acquiring $1 billion of SFRs and have purchased 2,000 properties to date.
The venture is expect to continue acquiring, renovating and leasing homes in undersupplied housing markets, including Atlanta, Birmingham, Huntsville, Charlotte, Jacksonville, Tampa, Orlando, Miami, Indianapolis, Dallas, Houston and Oklahoma City.
In addition, Rockpoint and RESICAP subsidiary Resibuilt Homes are expanding their existing $1 billion venture with a follow-on $2 billion venture focusing on the build-to-rent strategy. The BTR venture is currently developing more than 2,000 homes in the Southeast, with future projects in Atlanta, Charlotte, Raleigh, Greenville, Nashville, Orlando, Tampa, and Jacksonville. This venture is intended to provide quality rental homes in undersupplied communities.
