DS News

DS News July 2022

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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Page 49 of 99

48 SVN|SFR CAPITAL MANAGEMENT AND LINESIGHT DEVELOPMENT PARTNER ON BUILD FOR RENT COMMUNITIES SVN|SFR Capital Management has formed a joint venture with Linesight Development LLC to pursue opportunities to acquire land and construct, lease, and manage a portfolio of new Build for Rent (BFR) single-family rental housing communities. Drawing upon each partner's industry expertise and proven success, the JV will give Linesight the ability to build out a community pipeline at an accelerated pace and recycle development capital more efficiently to acquire more land and deliver more homes to targeted markets with supply and demand challenges. Currently, the JV is in development of its first mixed-use community project in the high-demand Dallas, Texas metro area, where residents will have the option to rent either single-family detached or attached townhome properties. Linesight's experience in land acquisition, development, and construction offers the ability to move on land opportunities quickly, ensuring a significant BFR pipeline year over year across multiple states. SVN|SFR will acquire the homes at certificate of occupancy and will lease, manage, and operate communities on behalf of the JV. e JV will collectively provide 1,000-plus BFR homes annually with a valuation of approximately more than $1.5 billion over the initial five years. "Our partnership with Linesight is a strategic step forward in the BFR marketplace as it offers tremendous opportunity to scale, enhance, and leverage each of our company's unique skill sets to optimize communities for the residents and increase profitability for our equity partners," said Jeff Cline, CEO of SVN|SFR Capital Management. "With Linesight's national and international reach, the JV 's ability to develop, build, and operate in multiple states and more quickly help fulfill growing demand for housing across the U.S. is possible." e JV will work side-by-side throughout the development process with its best-in-breed service providers to maximize efficiencies and cash flow for each community. Partners SVN|SFR currently works with include PR3 Management, third-party property management, Elevation, smart home and solar technology, and SFRhub.com, a proprietary data, research, and Build for Rent optimization platform. "e first JV development project near Dallas is moving forward and its proximity to jobs, retail, and entertainment make it an ideal community for young families and mid-tier professionals who either prefer to rent and or may be priced out of the home buying market due to rising rates and significant price appreciation over the last two years," said David Rey, Managing Partner of Linesight. Industry Updates From mergers and acquisitions to cutting-edge tech tools and solutions, here's the company news the industry is talking about this month.

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