MORE Residential, a Texas-based owner and operator of residential rental properties, has formed a programmatic joint venture with San Francisco–based investment firm Stockbridge Capital Group to acquire single-family rental communities in high-growth U.S. markets.
The joint venture will have more than $4 billion of initial gross purchasing power, with the potential to further scale over time. It targets newly built single-family rental communities that are purpose-built as rentals (or build-to-rent communities), including those that have been recently constructed, are currently under development, or are planned for development. The joint venture will seek to acquire build-to-rent communities consisting of 50 or more homes with modern finishes and high-quality amenities (such as clubhouses, fitness centers and pools) in locations characterized by strong population and job growth.
Along with its formation, the joint venture has recently either acquired, or i
