Tampa, FL-based Second Avenue Group, an institutional quality single-family rental platform, has received a commitment from Monroe Capital, LLC, of approximately $250 million through a mix of debt and equity capital.

The commitment brings Second Avenue’s current capacity for new investments to an approximate $1.7-billion fully levered capital base. Other recent commitments include $500 million from investment manager Waterton and $150 million from BLG Capital.

Second Avenue, which was founded in 2017, is currently active in 10 markets, primarily in the southeastern and southwestern US.  The firm has targeted an additional 10 markets for entry in the next year and expects to deploy as much as $1 billion annually.

The firm’s growth outlook is consistent with what it describes as the long-awaited and now widely recognized boom in the single-family rental sector and addresses the growing demand for high-quality suburban rental housing.