The Great Gulf Group has partnered with Westdale Real Estate Investment & Management and a global institutional investor with more than $100 billion of net assets under management to source land opportunities, develop, build, own and operate dedicated build-to-rent single-family housing communities in the U.S. Sunbelt through a new venture.
The partners have committed an initial $200 million of equity to the venture, with the potential for an additional $200 million equity commitment.
"We are very excited to have teamed up with two like-minded partners in order to capitalize on the demand for new purpose-built single family housing communities that we expect will continue to experience unprecedented growth, particularly in the U.S. Sunbelt,” said Ilias Konstantopoulos, CEO of the Great Gulf Group. “We believe this growing demand is largely driven by lifestyle and lifecycle changes by millennials, Gen Xers and baby boomers; affordability; and an increased