Haven Realty Capital and Walton Street Capital Acquire Six Atlanta SFR Communities for $134 Million
The Californer/10097511

EL SEGUNDO, Calif. - Californer -- Haven Realty Capital in partnership with an affiliate of Walton Street Capital, L.L.C.  has closed the first phase of a $133.7 million acquisition of six Dedicated Rental Communities (DRC) in the greater Atlanta, GA metro from builder/developer, ResiBuilt Homes.

The portfolio will include 537 newly constructed single-family rental (SFR) homes spread across six dedicated rental communities in three counties:

·     Bella View, located in Snellville

·     The Reserve, located in Dallas

·     Macland Phase 2, located in Dallas

·     Trickum Hills, located in Lawrenceville

·     Moss Pointe, located in Canton

·     Magnolia Trace, located in Holly Springs

The initial phase of homes was 100% leased upon closing.  The remaining homes will be acquired over the coming months following issuance of certificate of occupancy.

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.

More on The Californer

• California is taking Donald Trump to court for breaking the law to put polluter profits before American lives
• CloneForce: Changing the Way the World Works
• Plaza Mexico presents "Good Friday Celebration"
• Hollywood's Elite Gather at the Annual WOW Creations Oscars Gifting Suite at the Universal Hilton
• High School Student Creates BayAreaChampion to Make Competitions Fair for Younger Kids

"Late-stage Millennial family formation, decreasing interest in traditional home ownership, Baby-boomers looking for maintenance-free single-family home living and increased telecommuting -- trends that pre-dated the onset of COVID-19 -- have resulted in a surge of renter demand for single family housing,"  said Haven Realty Capital Managing Principal Sudha Reddy.

"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) lots, purpose-built DRC's are entire communities that operate similar to a multifamily building in a single-family home subdivision setting.

More on The Californer

• Where Were the Women? Reframing the Greek Revolution Through Contemporary Art
• Ship Overseas Inc Launches Secure-Buy Service to Protect International Vehicle Buyers
• Attention ALL Businesses: Are you Looking for some MARKETING MAGIC to help you increase your Sales & Profit? Start using this MARKETING MATH
• Governor Newsom marks 10 years of nation-leading red flag law, new data shows California setting the pace on gun safety
• JGCMGS Details Architecture to Safeguard Assets From Unauthorized Phishing Scams

"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.