Sunstone Properties Trust and Two Tree Capital have merged, forming vertically integrated investor Sunstone Two Tree, or STT, according to a Multi-Housing News article.
The new firm will invest in, develop and operate workforce multifamily and build-to-rent single-family communities. STT’s new operations will include the acquisition and development of new build-to-rent communities, alongside the renovation and repositioning of aging workforce properties across numerous fast-growing markets.
“Across both of its new strategies, STT’s areas of concentration will be over markets that have high costs of homeownership, a slowdown in class A construction, diverse arrays of employers as well as employment rates and wage growth above the national average,” Scott Maddux, president at Sunstone Two Tree and the former CEO of Two Tree Capital, told Multi-Housing
