BOSTON, MA – Rockpoint Group, a global real estate investment management company, announced that it has an exclusive $ 250 million joint venture with Resicap, a leading owner and operator of single-family rental homes based in Atlanta, GA. USD founded. Resicap's fully integrated real estate platform offers expertise in the acquisition, construction and management of high quality rental apartments with offices in 34 states and 59 markets. Together, Rockpoint and Resicap anticipate the purchase, renovation and rental of 4,500-5,000 high-quality single-family homes at prices affordable for residents of established suburban neighborhoods in the Southeastern United States, Florida and Texas.
The Resicap company will add a wider range of price points and markets to Rockpoint's single-family rental presence, complimenting Rockpoint's recently announced $ 375 million joint venture with Invitation Homes, Inc., based in Dallas . With Resicap company Rockpoint expects to become a leading investor in the single family home arena.
Bill Walton, Rockpoint Co-Founder, said, "This joint venture is a natural extension of our 26-year history of providing quality rental homes in demand-driven markets in the US. We are excited to partner with Resicap, a leading owner, operator and operator in the single family -Lettable space. "Tom Gilbane, executive director of Rockpoint, added," We believe that single-family homes will become a key asset class for many institutional real estate investors. "
Resicap Co-Founder Lance Popp commented, "We are very excited to be working with Rockpoint Group, a globally recognized real estate investor and manager who shares our commitment to housing rental." Co-founder Andy Capps added, "We look forward to expanding our portfolio and leveraging our successful platform and Rockpoint expertise to deliver an exceptional rental experience."
Margaret Whelan of the Whelan Advisory Group only advised the parties on the transaction.
Source: Rockpoint Group