By Mary Salmonsen | Multi Family Executive
Investment brokerage Atlas Real Estate has entered into a joint-venture partnership with DivcoWest to invest $250 million of equity in single-family rental homes in high-growth states throughout the western U.S.
In total, the joint venture expects to deploy $1 billion to acquire and renovate homes in Arizona, Colorado, Idaho, Nevada, and Utah, where Atlas Real Estate manages over 4,200 units across eight markets. The buy/sell brokerage transacts over $1 billion in real estate annually.
“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,” says Ryan Boykin, 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.”