reAlpha, SAIML form $200m STR JV
reAlpha, an AI-powered real estate technology and investment company, has formed a joint venture between its property company, reAlpha Asset Management and SAIML Pte. Limited, a Singapore-based asset management firm, to invest $40.8 million of equity in rent-ready STR properties. With leverage, the joint venture expects to make up to $200 million of investments across California, Arizona, Florida and Tennessee.
reAlpha Asset Management Inc. will have a 51 percent stake in the joint venture and oversee its day-to-day operations, and will earn customary fees associated with property and asset management.
The joint venture will leverage reAlpha’s proprietary AI-driven algorithm, reAlphaBRAIN™, to identify vacation homes.
Through its technology, reAlpha Asset Management Inc. will work to quickly build a pipeline of STR properties to support the joint venture’s investment activity. The company’s in-house brokerage is expected to drive time and cost effic