Atlas Real Estate, DivcoWest Form $1B SFR Joint Venture
The partnership will acquire and renovate homes throughout the western United States. Apr282021
Image courtesy of Atlas Real Estate
Real estate investment firm DivcoWest is investing $250 million in equity in a joint venture with Atlas Real Estate that plans to deploy $1 billion into acquiring and renovating homes for the single-family rental market throughout the Western United States. The JV marks DivcoWest’s entry into the growing SFR market.
The joint venture has already closed its first acquisition in Tucson, Ariz., a property at 4300 W. Bunk House Road, and a handful of properties are currently under contract throughout Arizona, Colorado and Nevada, according to Vincent Deorio, vice president of corporate development.
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A joint venture of Denver-based Atlas Real Estate and
DivcoWest, a San Fransisco-based investment firm, has joined the Single Family
Rental (SFR) exodus with a $1 billion purse targeted at the sector.
The JV plans to invest $250 million of equity in single-family homes as rentals throughout the Western United States and expects to deploy $1 billion acquiring and renovating homes in high-growth states, including Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.
“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
Charter Hall snaps up Patties Foods factories in $141m deal
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Charter Hall has struck a $141 million transaction with Patties Foods, acquiring two factories in Victoria from the worldâs biggest pie maker through a 30-year sale and leaseback deal.
It is the latest major transaction in the industrial and logistics real estate sector, which has won increasing attention from institutional investors as the pandemic disrupts the business models for shopping malls and office towers.
The deal will allow Patties, the worldâs biggest pie-maker, to invest in additional growth opportunities to support staff, business and brands.Â
For Patties Foodsâ owner Pacific Equity Partners the sale and leaseback arrangement allows the maker of iconic brands â FourâN Twenty, Patties, Herbert Adams, Boscastle, Nannaâs, Ruffie Rustic Foods â to plough back capital into its production effort.
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OUE Bayfront on Collyer Quay
After a sharp rebound in the first quarter of 2021, Singapore’s property investment volume is set to recapture pre-COVID levels in the coming periods, according to research by Colliers.
The global consultancy said total investment sales in the first quarter rose 25.8 percent from the previous quarter and 47.9 percent from a year earlier to S$3.8 billion ($2.9 billion) as sentiment improved amid the reopening of the city-state’s economy.
In the commercial segment, investment sales surged 377 percent from the previous quarter and 43.8 percent from a year earlier to S$1.1 billion. All calculations exclude mergers and government land sales, Colliers said.