
Second Avenue Teams with Sculptor on JV and Property Mgmt.
Second Avenue, a full-service single-family rental platform, has announced a strategic joint venture and property management agreement with Sculptor Real Estate.
Sculptor will contribute approximately 500 SFR homes to the joint venture and commit up to $100 million of additional capital to grow the JVās portfolio. Sculptor’s existing SFR portfolio covers eight of the 18 major markets where Second Avenue currently owns SFR homes.
Second Avenue has its national headquarters in Tampa, along with operational offices across the markets. JLL Capital Markets represented Second Avenue in this transaction.
“The Sculptor joint venture will enable Second Avenue to expand into an additional five markets by strategically deploying capital over the coming years,” said Second Avenue CEO and Founder Mike Rothman.
Since 2003, Sculptor has raised approximately $8.1 billion of committed real estate capital and has completed 195 transactions across 28 diverse real estate asset classes, including within the SFR segment.
- ◦Financing