Home News Real Estate Fund Quietly Purchases Entire Community Of 233 Single-Family Rental Homes In Panama City, Florida

Real Estate Fund Quietly Purchases Entire Community Of 233 Single-Family Rental Homes In Panama City, Florida

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Real estate investment platform Financing We recently acquired Sunset Village, a community of 233 single-family homes for rent in Panama City, Florida.

The purchase was made through a joint venture between two Fundrise-sponsored funds. Flagship real estate fund, Goldman Sachs Group Co., Ltd. (NYSE: GS) Last year we had a $ 300 million credit line and Grow the REIT VII.

The joint venture acquired the community for approximately $ 101.2 million from a developer who completed the construction of the home in February 2022. According to Fundrise, about 52% of the homes were occupied at the time of the acquisition. The community consists of 3, 4 and 5 bedroom homes.

The latest portfolio information on the latest acquisition status posted on the Fundrise website states: At the same time, we are in a position to capture what we believe will be a major price increase, thanks to the confluence of demographic factors that drive demand across the Sun Belt. “

According to the data from RedfinThe value of single-family homes in Panama City has increased by 53% year-on-year.

The company has invested heavily in single-family rental space, especially in Florida and other Sun Belt states. The Flagship Real Estate Fund currently owns at least 650 single-family homes and several apartments in Florida.

Unlike Wall Street funds, which buy large portfolios of rental properties nationwide, flagship real estate funds are designed for private investors. Uncertified investor Join for just $ 10 That RegA offering..

Most listed real estate investment trusts (REITs) have so far generated negative returns in 2022, but flagship real estate funds are now up 6.2% year-on-year (YTD) in the second quarter. Recorded a positive return.

Invitation Homes Co., Ltd. (NYSE: INVH), The largest owners of single-family homes in the United States are currently down 20.3% YTD. Another major player in single-family rental space, American Homes 4 Rent (NYSE: AMH), 17% decrease.

Financing As of the end of the second quarter of 2022, it has generated positive returns for 22 consecutive quarters.

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Photo: Provided by Fundrise

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