Avanta Residential Moves Into BFR Following Investment
COVID-19 has increased the demand for single-family rentals as live/work/play boundaries become blurred.
Avanta Residential, the single-family rental affiliate of Hunt Companies, has secured a recapitalization and strategic investment from global real estate investment manager Invesco Real Estate.
The commitment will further scale Avanta’s operating platform and position it as a build-for-rent enterprise.
Invesco Real Estate recognizes that the COVID-19 pandemic has increased the demand for single-family rentals as people’s live/work/play boundaries become more blurred.
This transaction further strengthens Invesco Real Estate’s commitment to the fast-growing build-for-rent asset class. Invesco Real Estate acquired 75% of Avanta Residential on behalf of a client with a high return strategy.
“We believe build-to-rent represents a tremendous opportunity to invest in an asset class that will allow us to provide a high-quality living experience to anyone looking for their next home,” said Bert Crouch, Managing Director, Head of North America for Invesco Real Estate.
“We look forward to partnering with Avanta as they expand their build-to-rent offering and make it possible for our client capital to grow in single-family rental portfolios.”
Avanta was formed in 2020 to leverage Hunt’s 30-year expertise in single-family rentals as well as the shift in mindset about home rentals.
Since then, Avanta has announced its first neighborhood at The Colony in Bastrop, Texas. More than 20 neighborhoods are in the works representing approximately 5,000 homes. Avanta is on track to create over 40 neighborhoods in the next several years.