Broadtree Homes Acquires Portfolio of Single-Family Rental Homes in Atlanta
Table of Content
The material on this site is for informational purposes only and does not constitute an offer or solicitation to purchase any investment solutions or a recommendation to buy or sell a security nor is it to be construed as legal, tax or investment advice. Unless otherwise indicated, any information available through this site is as of the date indicated therein and may not be updated or otherwise revised to reflect information that subsequently becomes available. Broadtree Partners is under no obligation to update the information contained on this site.
UPREIT transactions, (where “UPREIT” stands for Umbrella Partnership REIT), provide a tax deferred exit strategy for owners of real estate who might otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax basis. Amy Tait, Broadstone’s chairman and CEO, said the Atlanta market is attractive, with strong job and rent growth. She said Broadtree expects to announce additional multifamily community and single family rental home portfolio acquisitions throughout the fourth quarter. Broadtree Homes Inc. has acquired a portfolio of 37 single family rental homes in suburban Atlanta, Ga., for a total purchase price of roughly $2.6 million.
View All Financial Services & Investing
Broadtree announced the acquisition of a portfolio of 120 single family rental homes in suburban Atlanta, Georgia, for a total purchase price of approximately $8.5 million. IT transactions, (where "UPREIT" stands for Umbrella Partnership REIT), provide a tax deferred exit strategy for owners of real estate who might otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax basis. These transactions enable the property owner to exchange owned real estate for an interest in a professionally managed portfolio that is diversified by geography and property type. Broadtree remains open for investment by accredited investors only, with a minimum initial investment of $100,000. Broadtree seeks residential property acquisitions via outright purchase for cash and/or through UPREIT transactions.
Annie gained extensive experience in the healthcare marketing space at the American Cancer Society, beginning as Manager of Brand Initiatives and working up to Senior Director of Creative Strategy over fourteen years. Avi is the CEO of Seanair, a 63-year-old manufacturer of OEM precision machined parts for the aerospace industry. "We believe that our strategy of consolidating portfolios of renovated and leased homes is the model for the future of the industry." "Our commitment to deploy a scalable, predictable, and risk-adjusted model in the single-family rental space positions us as an attractive liquidity option and long-term partner for regional operators." Broadstone Real Estate ranked 20th on the most recent Rochester Business Journal list of property management firms.
Broadtree Home Rentals Top Competitors
With a diverse blend of experiences in engineering and business development roles across the Energy, Healthcare and Financial Systems industries, Paige is able to uniquely address the technical and strategic needs of a business. "Our goal is to address that demand and create an institutional-quality investment class, providing an exciting new opportunity for long-term real estate investors. We are pleased to participate as leaders in the consolidation phase of single-family home rentals." The information on this site is intended solely for the benefit of firms and companies seeking private equity investment capital by providing general information on our services and philosophy.
Additionally, the material on this site does not constitute a representation that the solutions described therein are suitable or appropriate for any person and Broadtree Partners does not accept any liability with respect to the information. Broadtree, which is externally managed by Broadstone Real Estate, LLC, remains open for investment by accredited investors only, with a minimum initial investment of $100,000. Please see certain important disclosures regarding Broadtree at broadstone.com/disclosures. Broadtree Partners is a group of entrepreneurial investors focused on acquiring businesses where the owners are looking to transition from their current roles. We specialize in providing opportunities for owners to smoothly exit their companies and seamlessly change leadership, while preserving their legacy. This is facilitated by our Operating Partners, who work with owners throughout the process and transition to running the day-to-day operations after an acquisition.
Contact Our CEO, Edwin Warfield
"In the aftermath of the financial crisis, a handful of institutional firms acquired hundreds of thousands of distressed homes through bulk sales and at auctions," Tait said. Patrick Briggs is the CEO of Semify, a white-label digital marketing service provider. Prior to joining Broadtree, Patrick was an entrepreneurial leader for startups and technology companies in Silicon Valley and New York City. Broadtree Homes is a private real estate investment offering managed by Broadstone Real Estate, LLC, a certified Women's Business Enterprise . The company was founded by the same families that pioneered consolidation within the multi-family apartment REIT space. The private real estate investment trust, managed by Broadstone Real Estate LLC, purchased the portfolio from American Homes 4 Rent.
Broadtree, which focuses on acquiring portfolios of stabilized single family homes, multifamily apartment communities, and other types of residential rental property, purchased the 120-unit portfolio from a large institutional single family rental owner-operator. The homes average 1,405 square feet, and were acquired for an average purchase price of approximately $71,000, or $51 per square foot. Broadtree currently owns and manages 421 single family homes in the Atlanta area. Broadtree Residential, a private REIT managed by Broadstone Real Estate, LLC, continues to grow its diversified residential income REIT.
In addition to Broadtree Homes, the firm also manages Broadstone Net Lease Inc. For more information, visit or contact a member of the firm's Investor Relations team. Check, a first-of-its-kind payroll infrastructure startup whose mission is to make paying people simple, announced its public launch today with $35 million in Series B funding from Stripe and Thrive Capital. Souheil Saliba didn’t have a hard time deciding where to set up shop when he opted to add manufacturing operations ... Kevin Stein and his family have committed a leadership gift of $5 million that will anchor the development of a ...
For more information, visit the Broadstone website at or contact a member of the firm's Investor Relations team.
Portfolio and provide additional homes for possible future Broadtree acquisition. The deal structure aligns incentives between the local operating platform of Dominion and the institutional oversight and capital markets expertise of Broadtree. The purchase will strengthen Broadtree's holdings and establish a meaningful and well-defined portfolio of rented homes in the recovering and robust Atlanta, Ga. This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and apprenticeship. Broadtree makes hiring decisions based solely on qualifications, merit, and business needs at the time. Prior to becoming CEO, Annie spent five years at Ocozzio as the Vice President of Marketing Strategy and later as President.
Broadtree is a private residential income REIT that holds a diversified, geographically dispersed portfolio of 810 residential rental units in Western New York; Palm Beach County, Florida; the Atlanta, Georgia area; the Greater Minneapolis, Minnesota area, Kentucky, and North Carolina. "We continue to seek capital infusions from accredited individuals and institutions, and will deploy that capital prudently as we acquire additional stabilized portfolios of single family homes." With more than 14 million single-family home rentals in the U.S and only 250,000 (less than 1.8%) currently owned by institutional investment companies1, the market is ripe for deliberate consolidation. Broadstone has released an infographic illustrating the changing landscape of Single Family Rental investing, and how it benefits both investors and renters alike. The homes, which average 1,440 square feet, were acquired for an average purchase price of some $70,000, or just under $49 per square foot, Broadstone reported.
"Broadtree holds a long-term view of the Single-Family Rental marketplace, and these renovated, rented homes will serve as core holdings for us as we seek additional portfolios and increased levels of capital from accredited investors." She began her career at General Electric, focused on solving high-visibility engineering design and operations challenges across the Energy industry. As her expertise evolved, Paige’s role grew to leading global teams and managing high-value product development ventures.
Th, just seventeen days after Broadtree's acquisition of 127 Atlanta-area rental homes from Dominion. The purchase will continue to strengthen Broadtree's presence in the Atlanta, Ga. "We hand-picked each property and renovated them with a long term view to ownership. We're excited to provide on-going property management services and like the fact that we will participate in the future performance of the portfolio as shareholders in Broadtree Homes."
Comments
Post a Comment