RiverOak is investing in Redbrick Partners Fund 2, a funddeveloped by Washington, DC-investment management firm RedbrickPartners LP. The investment, which will be funded equally byRiverOak Fund II and RiverOak Fund III, will support the Redbrickfund's acquisition of homes valued at approximately $70,000 thatrent for approximately $1,000 per month.
"This is an investment opportunity that requires an intenselevel of hands-on local market research and individual, personalinspection of each property," RiverOak Investment managing directorGeorge Yerrall says. "This is congruent with our own philosophy ofcapitalizing on local market knowledge and experience, whilechoosing assets that institutional investors avoid."
He adds that to his knowledge there is no other investment fundin the US that allows individual investors to buy shares in adiversified portfolio of single-family rental homes. Yerrall saysthat the concept is popular in Great Britain.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
