Great Gulf Group, together with its partners Westdale Properties and a large Canadian institutional investor, has acquired 787 residential lots across seven master-planned Texas communities in San Antonio, Austin and Houston, from Forestar Group, to build, own and operate dedicated single-family rental homes.
“This acquisition provides an excellent entry point into the Houston and Austin markets while increasing Great Gulf’s operational scale across our Texas portfolio. Based on demographic trends and customer preference, we believe the demand for professionally managed rental housing is undersupplied,” said Aole Ansari, COO, Great Gulf build-to-rent. “Land development and construction activities are under way, and we expect to begin home deliveries to residents in late 2023. We look forward to future investment opportunities and strengthening our relationship with Forestar.”
Daniel Bartok, CEO of Forestar, said, “These sites provide an excellent opportunit
