Second Avenue, a full-service single-family rental platform, has announced a strategic joint venture and property management agreement with Sculptor Real Estate. The collaboration will see Sculptor contribute approximately 500 SFR homes to the joint venture and commit up to $100 million of additional capital to grow the JV’s portfolio. With existing SFR portfolios covering eight of the 18 major markets where Second Avenue currently owns SFR homes, this transaction is expected to expand Second Avenue’s reach into an additional five markets over time.
Headquartered in Tampa with operational offices across its various markets, Second Avenue was represented by JLL Capital Markets in this transaction. Mike Rothman – CEO and Founder of Second Avenue – commented: “The Sculptor joint venture will enable us [Second Ave.]to expand into an additional five markets by strategically deploying capital over the coming years.”
Since 2003, Sculptor has raised approximately $8.1 billion of committed real estate capital through 195 transactions across 28 diverse real estate asset classes; including within the Single Family Rental (SFR) segment which it now further strengthens through its partnership with Second Ave..
