Tricon Capital Group announced that its single-family rental joint venture, TAH-JV1, has acquired a portfolio of 708 homes located in Nashville.
The high-quality portfolio is fully stabilized with approximately 97 percent occupancy, an average vintage of 11 years, and has been renovated and maintained to a high standard by its previous owner and operator, Invitation Homes.
The portfolio purchase price of approximately $210 million was funded by a combination of joint venture equity and debt under the joint venture’s existing credit facility.
Tricon initially entered the Nashville market in first quarter 2019, attracted by its strong housing fundamentals and growing local economy. This acquisition increases Tricon’s Nashville portfolio under management to approximately 850 homes and provides economies of scale and diversificati