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SVN | SFR Capital, Linesight in $1.5B JV to Go National with Build-to-Rent Communities
SVN | SVR Capital Management has formed a joint venture with Linesight Development LLC to acquire land and construct, lease and manage a portfolio of new build for rent (BFR) housing communities. The JV will collectively provide 1,000+ BFR homes annually with a valuation of approximately $1.5-plus billion over the initial five years.
Drawing upon each partner’s industry expertise, the JV will give Linesight the ability to build out a community pipeline at an accelerated pace and recycle development capital more efficiently to acquire more land and deliver more homes to targeted markets with supply and demand challenges.
“Our partnership with Linesight is a strategic step forward in the BFR marketplace as it offers tremendous opportunity to scale, enhance and leverage each of our company’s unique skill sets to optimize communities for the residents and increase profitability for our equity partners,” said Jeff Cline, CEO of SVN | SFR Capital Management. “With Linesight’s national and international reach, the JV’s ability to develop, build and operate in multiple states and more quickly help fulfill growing demand for housing across the U.S. is possible.”
Currently, the JV is in development of its first mixed-use community project in the high-demand Dallas metro area, where residents will have the option to rent either single-family detached or attached townhome properties.
- ◦Sale/Acquisition
- ◦Development
