Transcendent Investment Management (TIM), a private equity firm focused on the housing market, and Electra America, a private equity firm specializing in the multifamily sector, have teamed up to grow and scale a leading single-family rental (SFR) housing platform that will target newly built housing in fast-growing Sun Belt markets.
The new joint venture, Transcendent Electra, has established a fund for the acquisition of high-quality homes from top home builders in attractive suburban neighborhoods in the states of Florida, Georgia, Texas, North Carolina, South Carolina and Tennessee, where both firms have an existing footprint.
Jordan Kavana will serve as Transcendent Electra’s CEO. The new joint venture, through its partnership with leading home builders, plans to acquire and develop 15,000 new single-family units over the next five years.
“Our mission is to provide quality housing for families across the Southeast,” said Kavana. “The goal o