Haven Realty Capital, J.P. Morgan launch $415m BTR JV

Haven Realty Capital and institutional investors advised by J.P. Morgan Global Alternatives have formed a programmatic joint venture to acquire and develop more than $1 billion in new build-to-rent (BTR) communities throughout the United States.

The $415 million equity joint venture will provide long-term capital for Haven to continue to execute its business plan in the BTR space, working with homebuilders.

“The for-sale housing market has been significantly hampered by recession fears, inflation and rising interest rates placing a burden on homebuilders and their ability to add to the housing stock,” said Sudha Reddy, Haven founder and managing principal.  “This partnership will allow us to continue working with U.S. homebuilders, who are becoming increasingly comfortable selling entire communities to operators like Haven to lease to residents who want to live in a home but can’t afford to buy or prefer to rent.”

One of the nation’s leading BTR own