The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 6, 2022
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Haven Realty Capital and J.P. Morgan Global Alternatives Firm Fund to Develop and Acquire Build-to-Rent Communities

11/16/22

Haven Realty Capital and institutional investors advised by J.P. Morgan Global Alternatives have formed a programmatic joint venture to acquire and develop more than $1 bil in new build-to-rent (“BTR”) communities throughout the United States. The $415 million equity joint venture will provide long-term capital for Haven to continue to execute its business plan in the BTR space, working with homebuilders.

“The for-sale housing market has been significantly hampered by recession fears, inflation and rising interest rates placing a burden on homebuilders and their ability to add to the housing stock,” said Haven Founder and Managing Principal Sudha Reddy. “This partnership will allow us to continue working with U.S. homebuilders, who are becoming increasingly comfortable selling entire communities to operators like Haven to lease to residents who want to live in a home but can’t afford to buy or prefer to rent.”

One of the nation’s leading BTR owner / operators, Haven currently controls 35 communities across nine states in various phases of construction and stabilization representing approximately 3,500 homes and $1.2 bil in project value.

“The joint venture will add to Haven’s existing portfolio that has been aggregated over the last two years” continued Mr. Reddy. “We expect to be an active buyer / developer as the market evolves and opportunities become available over the coming months.”

Haven Managing Director and Head of Capital Markets Eric Kim added, “the fundamentals of the single-family rental industry remain solid and J.P. Morgan believes as we do in the strength and viability of the asset class along with our ability to execute. We look forward to working with our partner for many years to come.”

Haven intends to leverage its existing relationships and create new ones with best-in-class national and regional homebuilders throughout the Sunbelt states. The joint venture will target communities with 50 to 200 homes ranging from 1.5k sf to 2.5k sf, primarily with three- and four-bedroom and two- and three-bathroom floorplans including two-car garages.

The joint venture comes at a time when new for-sale housing starts have fallen to a two-year low, according to data released from the Department of Housing and Urban Development.

Initial seed investments for the joint venture will include three communities located in Atlanta MSA representing nearly 250 homes, with expected closings in the next 90 days.




Return to the previous page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media