Atlas Real Estate [1] has entered into a joint venture partnership with DivcoWest [2] to invest $250 million of equity in single-family homes as rentals throughout the Western U.S. The joint venture expects to deploy $1 billion acquiring and renovating homes in areas where Atlas currently manages more than 4,200 units, including Colorado, Arizona, Idaho, Nevada, and Utah.
“DivcoWest’s partnership with Atlas is a testament to our decade-plus history as an acquisition partner and the long-standing relationships we have cultivated with institutional investors since our inception,” said Ryan Boykin [3], Co-Founder of Atlas Real Estate. “The start of this new joint venture also points to the strength of the SFR housing sector and to the full-service real estate investment platform Atlas has created.”
Founded in 2013, Atlas Real Estate specializes in investment brokerage, property management, and institutional acquisition. Established in 1993, DivcoWest is a multidisciplinary investment firm headquartered in San Francisco.
“The new partnership between Atlas and DivcoWest enables us to live up to our mission as a company: ‘To Uplift Humanity Through Real Estate,’” said Tony Julianelle [4], CEO of Atlas Real Estate. “The joint venture will function to increase the inventory of single-family rentals in Atlas-managed markets, presenting a tangible opportunity to serve people and create a positive resident experience, while helping meet the supply demands by providing high-quality housing.”
On Wednesday, May 12, the Five Star Institute will present its 2021 Single-Family Rental Summit (SFRS) [5] at The Four Seasons Resort and Club Dallas at Las Colinas. The in-person event brings together top subject matter experts and skilled SFR practitioners who will lead discussion panels and training sessions that will answer questions and offer viable solutions related to property acquisition and management, financing, strategies for small, midcap, and large investors, and new developments related to technology and professional services.
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More information about the agenda, registration, and other event details are available here [5].