Atlas Real Estate and DivcoWest Form $1 Billion Joint Venture to Acquire and Renovate Single-Family Rental (SFR) Homes
The JV will acquire, renovate, and manage single-family rental (SFR) homes, marking DivcoWest’s entrance into the SFR investment market
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DENVER, April 27, 2021 /PRNewswire/ — Atlas Real Estate, a full-service real estate company specializing in investment brokerage, property management and institutional acquisition, today announced that it has entered into a joint venture (JV) partnership with San Francisco-based DivcoWest to invest $250 million of equity in single-family homes as rentals throughout the Western United States. The JV expects to deploy $1 billion acquiring and renovating homes in high-growth states, including Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.
“DivcoWest’s partnership with Atlas is a testament to our decade plus history as an acquisition partner and the long-standing relationships we have cultivated with institutional investors since our inception,” explains Ryan Boykin, co-founder of Atlas Real Estate. “The start of this new joint venture also points to the strength of the SFR housing sector and to the full-service real estate investment platform Atlas has created.”
“The new partnership between Atlas and DivcoWest enables us to live up to our mission as a company: ‘To Uplift Humanity Through Real Estate,'” says Tony Julianelle, CEO of Atlas Real Estate. “The joint venture will function to increase the inventory of single-family rentals in Atlas-managed markets, presenting a tangible opportunity to serve people and create a positive resident experience while helping meet the supply demands by providing high quality housing.”
Since its inception in 2013, Atlas Real Estate has been recognized as a leader in the real estate industry. The Denver Business Journal named Atlas as a Fast 50 Honoree, Bank of America selected Atlas as one of its Colorado Companies to Watch, and ColoradoBiz Magazine has honored the firm with the Best of Colorado: Property Management award for the past four consecutive years.
About Atlas Real Estate
Atlas Real Estate is a full-service real estate company specializing in investment services, property management and institutional acquisitions. A buy/sell brokerage, Atlas is also a Zillow Offers Partner Agent. Since its inception in 2013, Denver-based Atlas Real Estate has made a commitment to Uplift Humanity Through Real Estate. With offices in eight markets nationwide, Atlas transacts over $1 billion in real estate annually and manages more than 4,200 residential units. Atlas has been recognized by leading media outlets as one of the Best Places to Work in Denver, the Best Property Management Company and a Top Company in Real Estate. To learn more about Atlas, visit www.realatlas.com.
Founded in 1993, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Los Angeles, Menlo Park, Boston, Washington DC and New York City. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world’s most forward-thinking companies and investors. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 48 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail and multifamily spaces. www.divcowest.com