AVENTURA, Florida–(BUSINESS WIRE)–to happen– a vertically integrated Miami-based multi-family investor, developer and operator – has partnered with Oakley Group – a Birmingham-based multi-family property investor and developer – to develop, acquire and operate a single-family rental portfolio (“SFR” ) / Built-for-Rent Properties (“BFR”). jobs, positive immigration, low taxation, an expensive housing market and local desirability.
Major foreclosures due to the Great Financial Crisis of 2007/2008 led to the emergence of a new sector: single-family homes for rent (SFR). Financial investors have had significant success acquiring, renovating and renting homes that have been subject to foreclosure and learning that there is healthy demand for the asset class. As a result, developers began exploring the operational efficiencies of building purpose-built communities with Homes for Rent (BFRs) and found great success in rentals and operations in the Southwestern United States. United. Future Oakley Capital seeks to capitalize on this emerging trend by both acquiring and developing these assets in the Southeast and Midwest.
Currently, there is an intergenerational demand for a home of one’s own. Millennials experienced stagnant real wage growth and stayed away as real house price appreciation continued. As this generation ages, the desire for a home and private space becomes increasingly important to them, but the lack of affordability of owning a home prevents homeownership. On the other end of the spectrum, empty nests and baby boomers have accumulated significant equity in their homes. Many would like to downsize, take advantage of a strong sales market, find a more efficient turnkey product, but would prefer not to move to a traditional apartment community. Advenir Oakley Capital aims to fill that missing middle ground that allows individuals to live in their own home, in a safe, well-planned community, without the hassle and expense of buying a property.
Future Oakley Capital was able to capitalize on this exciting new industry by acquiring LEO at The Sanctuary, a 208-unit community in Savannah, GA, and LEO at Augusta Commons, a 207-unit community in North Augusta, SC, in the fourth quarter. of 2021. In addition, Advenir Oakley Capital has a pipeline of approximately 3,200 units in various stages of pre-development and development across 10 different properties.
Focused on building world-class development and operations teams, Advenir Oakley Capital intends to grow its business by adhering to the same principles that have blessed both companies thus far: a sought-after product and service. outstanding customer. Striving to become a major player in the BFR sector, Advenir Oakley Capital looks forward to partnering with future investors, developers and municipalities to achieve its goal of 8,000 units by 2025.
Founded in 1996, Advenir Living has historically owned over 25,000 units with an asset value of $4.2 billion. Currently, Advenir Living’s portfolio is comprised of 43 properties, over 14,000 units, and has an asset value of $2.5 billion valuation, $1 billion associated with equity under management. With five regional offices, 49 corporate employees and 317 on-site employees, Advenir Living intends to further expand its footprint in the real estate sector. www.advenirliving.com
With a historic asset value of $300 million, Oakley Group is no stranger to the industry. Founded in 2007, Oakley Group has developed and owned 3,626 units in its existence, with 20 properties, 2,232 units, making up its current portfolio. www.oakleygroup.com