Asset manager Partners Group Holding AG has agreed to buy a portfolio of single-family rental homes owned by Fortress Investment Group for $1B, Partners Group announced this week.

The deal includes 2,528 new-build homes operated by Kairos Living and another 1,000 homes in contract. The houses are in the US Sun Belt, primarily in Texas, Alabama, Georgia and Oklahoma, in cities including Oklahoma City; Amarillo; Birmingham; Tampa and Atlanta.

In its release announcing the acquisition, Partners Group noted that the construction of new homes is helping to expand the supply of rental properties.

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