Magnolia Capital has formed a new joint venture with Principal Real Estate Investors to pursue opportunities to acquire, renovate and operate single-family rental homes throughout the United States.
Magnolia Capital’s single-family brand vertical, National Home Rentals (NHR), will pursue homes on behalf of the joint venture with the goal of acquiring 1,000-plus homes per year and constructing a diversified, national portfolio within target markets that exhibit strong underlying supply and demand trends.
“Our vision for the single-family rental sector is consistent with our approach in multifamily — to embrace a data-driven, customer-first approach that allows us to create a differentiated product for our residents and compelling results for our investors,” said Max Peek, founder, CEO and managing principal at Magnolia Capital. “We are thrilled to partner with Principal Real Estate Investors, a thoughtful investor that shares our conviction for this unique inv
