Pacific Oak Capital Advisors announced the recent acquisition of seven single-family homes in Southaven, Miss., for $1.11 million. With this latest portfolio acquisition, Pacific Oak and its affiliates now own and manage approximately 1,800 homes throughout suburban centers in the Midwest and Southeast.
The built-to-rent homes were completed in 2020 and are 10 minutes south of downtown Memphis. The homes were constructed by a Tennessee homebuilder that is a strategic Pacific Oak partner in the submarket and represent an extension of Pacific Oak's prior investments in both Southaven and the broader Memphis submarket.
"Our single-family strategy is focused on identifying vibrant markets with a diversified economy, strong job market and a population that favors renting," said Ben Aitkenhead, managing director of Pacific Oak Capital Advisors. "Nearly 40 percent of the people living in and around Memphis are between 20 and 49 years of age, which is a prime demographic for r
