RESICAP and Rockpoint plan to build on the $1 billion of SFR investments they’ve made throughout the Southeast since forming a joint venture in October 2020 with an additional $2.5 billion commitment.
Additionally, RESICAP subsidiary Resibuilt Homes and Rockpoint will expand their $1 billion build-to-rent joint venture that kicked off in December 2020 with another $2 billion investment, according to a press release.
“The expansion of our partnership with RESICAP and Resibuilt underscores our belief that single-family rental housing is an attractive core real estate holding for institutional investors, particularly given the strong supply/demand dynamics and favorable secular trends in residential housing today,” said Jason Chiverton, senior managing director at Rockpoint Group.
To-date, the RESICAP/Rockpoint venture has acquired or is under contract to purchase more than 2,000 homes in Atlanta; Birmingham and Huntsville, Ala.; Charlotte, N.C.; Jacksonville, Tampa, Orlando and Miami, Fla.; Indianapolis; Dallas; Houston; and Oklahoma City.
The Resibuilt/Rockpoint partnership is currently developing more than 2,000 homes in the Southeast and has a pipeline of projects in Atlanta; Charlotte and Raleigh, N.C.; Greenville, S.C.; Nashville; and Orlando, Tampa, and Jacksonville, Fla. Resibuilt will perform both the subdivision development and new home construction for the venture. The pipeline of more than 9,000 homes will make it one of the Southeast’s largest homebuilders.
“We have spent years building what we think is one of the most talented management teams in the SFR space, and our focus is now shifting to building partnerships with local vendors who share our vision and who are dedicated to delivering best-in-class rental homes,” RESICAP co-CEO Andy Capps said.