Second Avenue’s SFR Investment Capacity At $1.7B
Second Avenue receives $250 million Investment from Monroe Capital.
Monroe Capital, a leading private credit asset manager, has committed approximately $250 million to single-family rental platform Second Avenue Group.
The investment is a mix of debt and equity capital and brings Second Avenue’s current capacity for new investments to an approximate $1.7 billion fully levered capital base.
BLG, Waterton also Invest in Second Avenue
Other recent commitments include a $150 million from BLG Capital and a $500 million from investment manager Waterton, as well as “significant amounts from other institutional capital partners” the company said in a release.
The Second Avenue platform manages all aspects of single-family rental investment into one centralized location. It is active in 10 markets, primarily in the Southeastern and Southwestern US. The firm has targeted an additional 10 markets for entry in the next year and expects to deploy as much as $1 billion annually.
Mike Rothman, Founder and Chief Executive Officer at Second Avenue, estimates that there are 17 million single-family rental homes located nationwide.