Investment firm C-Star has exited its first fund, an aggregated portfolio of single-family rental homes in the Atlanta metro area, in a sale to an unnamed institutional SFR operator. 

C-Star CEO Sherri Li said the fund almost doubled its purchase price and received multiple cash offers from key players in the SFR sector. It sold at an in-place cap rate of sub-4% and at more than 10% over asking to an institutional investor that currently owns 40,000 homes across the United States.

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