Second Avenue forms JV with Sculptor Real Estate

Second Avenue has formed a strategic joint venture and property management agreement with Sculptor Real Estate, the real estate business of Sculptor Capital Management, a global alternative asset management firm specializing in real estate, credit and multi-strategy investment products.

Sculptor will contribute approximately 500 single-family residential (SFR) homes to the joint venture and commit up to $100 million of additional capital to grow the joint venture 's SFR portfolio. Sculptor's existing SFR portfolio covers eight of the 18 major markets where Second Avenue currently owns SFR homes.

"Sculptor is the fifth multibillion-dollar fund since early 2022 to partner with Second Avenue to acquire homes, and they join an esteemed group of legacy investors including Monroe Capital, Waterton, BLG Capital Advisors and others," said Second Avenue CEO and founder Mike Rothman. "Today's news further demonstrates investor demand for our platform, which is purpose-built for