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Walker & Dunlop Arranges BFR JV for Avanta Residential, Invesco Real Estate
Bethesda-based Walker & Dunlop, Inc., has structured a joint venture partnership between Avanta Residential, a build-for-rent developer, and Invesco Real Estate, a global real estate investment manager.
As part of the transaction, Invesco Real Estate acquired 75% of Avanta Residential, which is developing more than 20 neighborhoods and approximately 5,000 homes. Avanta plans to create an additional 40-plus neighborhoods over the course of the next several years.
Walker & Dunlop’s dedicated BFR team served as advisor to Avanta Residential and helped the firm identify a joint venture partner to provide funds and support. The Walker & Dunlop team also developed the agreement’s terms and facilitated negotiations.
According to Walker & Dunlop, BFRs are purpose-built housing to be operated as single-family rental investments within a contiguous community. The asset class is emerging a strong sector of commercial real estate and is estimated that 5-10% of new build homes are for BFR communities.
- ◦Development
- ◦Financing
