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Investors - NOVEMBER 19, 2021

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Walker & Dunlop forms JV with Avanta Residential, Invesco Real Estate

by Andrea Zander

Walker & Dunlop has formed a joint-venture partnership with Avanta Residential, a build-for-rent (BFR) developer, and Invesco Real Estate.

As part of the transaction, Invesco Real Estate acquired 75 percent of Avanta Residential, which is developing more than 20 neighborhoods and about 5,000 homes. Formed in 2020, Avanta plans to create more than 40 neighborhoods over several years.

BFRs are housing built to be operated as single-family rental investments within a contiguous community. This rapidly growing asset class is emerging as one of the strongest sectors in commercial real estate, and it is estimated that 5 percent to 10 percent of newly built homes are for BFR communities. The product has steadily increased in popularity due to demographic trends related to Gen-Y and baby boomers. As more young families, families with children, and retirees rent single-family homes with yards and upscale amenities on a long-term basis, migration patterns related to COVID-19

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