Established Players Expanding Their SFR, BTR Footprints
By Paul Bergeron
May 20, 2022 at 07:54 AM
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In separate deals, SVN | SFR Capital Management and NexPoint plan to add to their portfolios.
A joint venture and newly formed REIT furthers interest and growth in the single-family rental and build-to-rent space.
SVN | SFR Capital Management is joining with Linesight Development to pursue opportunities to acquire land and construct, lease, and manage a portfolio of new BFR single-family rental housing communities.
The JV collectively is expected to provide 1,000+ BFR homes annually with a valuation of approximately $1.5 billion during the initial five years.
Meanwhile, alternative investment platform NexPoint Advisors formed a new NexPoint advised REIT, partnering with HomeSource Operations to acquire, build, and operate SFR homes. This REIT will target existing SFR homes and new construction BTR homes in high-growth markets.
Dallas is Home to First SVN | SFR Community
The SVN | SFR joint venture will get started with a mixed-use single-family and townhome community in the Dallas metro area, where residents will have the option to rent either attached townhome properties or single-family detached homes.
SVN | SFR will acquire the homes at certificate of occupancy and will lease, manage and operate communities on behalf of the JV.
NexPoint Announces New Single-Family Rental Initiative
In acquiring existing SFR homes, NexPoint’s advised REIT will focus on homes built no earlier than 2000. The REIT will also target new construction BTR homes, focusing mostly on high-growth secondary and tertiary markets throughout the Sunbelt and Southeastern US.
NexPoint, which expanded into the SFR market in 2018, will add to a portfolio that now owns and operates more than 22,000 homes.
Currently, the new REIT has an existing portfolio of more than 1,000 homes, which NexPoint expects to grow to several thousand homes by year-end.
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