Walton Global, Rockpoint Announce BTR Joint Venture

The $300 million investment brings the partnership's assets’ value to about $1 billion.

Established build-to-rent housing player Rockpoint is adding to its portfolio this week through a joint venture with Walton Global.

The partnership intends to support the growing demand for single-family rental homes across the US with Rockpoint investing up to $300 million in equity in Walton’s build-to-rent line.

The partnership is expected to total up to $1 billion in real estate assets. The joint venture is initially focusing on targets within Walton’s existing master plans and more than 81,000-acres of land.

“This joint venture announcement is timely and unsurprising because no matter how you slice the numbers, we are still tremendously short of housing inventory,” Kori Covrigaru, CEO, PlanOmatic, tells GlobeSt.com. 

“Many industry leaders are cautiously optimistic when it comes to real estate today, while it is very clear that companies in the SFR space remain fully optimistic. Companies are assembling their pieces and strategies for the potential of the short and long term now. They are preparing now to go big.”

Expect dedicated rental communities to be a larger part of the housing solution in the coming years, Sudha Reddy, managing principal, Haven Realty Capital, tells GlobeSt.com, “Partnerships like this will continue to add much needed supply of quality rental housing across the country and will help satisfy the increasing demand for larger floor plan rental housing.”

The initial pipeline for Walton comprises approximately 3,500 units, expanding within MSAs such as Atlanta, Austin and Jacksonville, targets for the joint venture.