RCLCO Fund Advisors (RFA), a leading real estate investment management and advisory to institutional investors, has formed a joint venture on behalf of a Top 50 domestic pension fund. The new programmatic relationship, which will focus on investments in purpose-built single-family rental communities across select U.S. markets, has made an initial investment via the closing of an 82-home single-family detached residential community targeting core-plus returns.
The strategy seeks opportunities with 50-250 homes and within 30 minutes of a major employment center, a majority 3BR+ product, and a preference for amenitized communities with townhomes and/or single-family detached homes.
“RFA was an early participant and continues to have high conviction in BTR investments based on observed, and too often unmet, demand for high quality and affordable single-family housing,” said Taylor Mammen, CEO of RCLCO Fund Advisors. “This partnership further reflects our commitment to developing investment structures tailored to the specific objectives of our institutional clients.”
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