Haven Realty Capital and Walton Street Capital Acquire Six Atlanta SFR Communities for $134 Million
By: Haven Realty Capital
The portfolio will include 537 newly constructed single-family rental (SFR) homes spread across six dedicated rental communities in three counties:
The SFR homes across the portfolio average 2,200 square feet and consist of three-, four- and five-bedroom floorplans, large yards and two-car garages. Each home will feature stainless steel appliances, granite countertops, subway-tile backsplash, hardwood style flooring and security systems.
"Late-stage Millennial family formation, decreasing interest in traditional home ownership, Baby-boomers looking for maintenance-
"We've seen renter demand increase for larger living spaces in less dense suburban neighborhoods as families grow in size," said Reddy, whose firm operates a portfolio of approximately 3,600 SFR and traditional multifamily units throughout the U.S. "The average apartment unit has gotten smaller over the past decade and there has been less emphasis on units with three or more bedrooms. Single family rental homes also provide a flexible option for individuals who want to transition out of homeownership but remain in the suburban environment."
Unlike the majority of SFR in the United States which are individual homes on scattered (disaggregated)
"The first 113 homes in the Atlanta portfolio represent Haven's first closing in what is an approximately $200 million pipeline of purpose-built DRC's throughout the Southeast. We are expected to close an additional 700 SFR and townhomes within the next 18 months. As we continue to add projects to the pipeline, we anticipate doubling the volume of deals under contract over the next 12 months," added Haven Realty Capital (http://www.havenrc.com) Principal Chris Turitto, who heads the firm's acquisition efforts.
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Page Updated Last on: Oct 13, 2020