Atlas Real Estate has entered into a joint venture partnership with San Francisco–based DivcoWest to invest $250 million of equity in single-family rental homes throughout the western United States. The joint venture 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.
“The start of this new joint venture also points to the strength of the SFR housing sector and to the full-service real estate investment platform Atlas has created,” said Ryan Boykin, co-founder of Atlas Real Estate.
Tony Julianelle, CEO of Atlas Real Estate, added, “The joint venture will function to increase the inventory of single-family rentals in Atlas-managed markets, presenting a tangible opportunity to serve people and create a positive resident experience, while helping meet the supply demands by providing high-quality housing.”
