Arch Street Capital Advisors and GTIS have sold on behalf of an institutional client a portfolio of single-family rental home properties across four U.S. states. The price was $268 million.
GREENWICH, Conn. & NEW YORK–(BUSINESS WIRE)–Arch Street Capital Advisors, LLC (“Arch Street”), a Greenwich, Connecticut-based real estate investment advisory firm, and GTIS Partners (“GTIS”), a real estate investment firm headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Paris and Munich, today announced the sale of a portfolio of 1,830 single-family rental home properties. The homes are located across four US states and were sold on behalf of an institutional client for $268 million.
“We are pleased to have successfully exited these assets on behalf of our institutional client,” said Lori Schechter Roseman, Head of Asset Management at Arch Street Capital Advisors. “The portfolio was acquired over an 18-month period with careful consideration given to market diversification and demographics.”
The portfolio was managed through an investment platform joint venture operated by GTIS, focused on acquiring, renovating and managing single-family rentals. The platform achieved occupancy rates in excess of 95% in the Dallas, Houston, Atlanta, Chicago and South Florida MSAs.
Noted Rob Vahradian, GTIS Partners Senior Managing Director and Head of US Investments, “we were early investors in the single-family rental market and the housing market overall after the financial crisis, a primary driver in our ability to accumulate a portfolio of this quality and value.”
About Arch Street Capital
Arch Street Capital Advisors, L.L.C. is a full-service real estate investment advisory firm. Arch Street specializes in assisting investors with their U.S. real estate strategies including acquisition and joint venture advisory, financing advisory, and asset management and disposition services. Since 2003, Arch Street has advised clients on more than $6.5 billion of acquisitions, dispositions and financings. Arch Street manages, on behalf of its clients, a diverse portfolio of investments in the industrial, office, multi-family, single-family, hospitality, retail, health care, student housing, land entitlement and development sectors of the U.S. real estate market. For more information visit: www.archstreetcapital.com
About GTIS Partners
GTIS Partners is a global real estate investment firm headquartered in New York with offices in Los Angeles, San Francisco, Atlanta, São Paulo, Brazil, Paris, France and Munich, Germany. GTIS Partners was founded in 2005 and is managed by President Tom Shapiro and Senior Managing Directors Josh Pristaw, Rob Vahradian, Tom Feldstein, João Teixeira and Amy Boyle. GTIS Partners has 94 employees and approximately $4.7 billion of gross real estate assets under management. The firm pursues opportunistic real estate investments through direct equity investment and non-traditional lending activities. To date, the firm has committed capital to residential, retail, industrial, office, hotel and mixed-use projects in the U.S. and Brazil, and is among the largest real estate private equity companies in Brazil. For more information, please visit www.gtispartners.com.