Arch Street Capital Advisors and GTIS Partners have sold a portfolio of 1,830 single-family rental home properties. The homes are located across four U.S. states and were sold on behalf of an institutional client for $268 million.
The buyer was not disclosed.
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 percent in the Dallas, Houston, Atlanta, Chicago and South Florida MSAs.
Recently, Tricon Capital Group entered into a joint venture agreement with two leading institutional investors to create a portfolio of single-family rental homes that will be acquired and managed by Tricon American Homes.
