One of Athens, GA’s largest real estate transactions
MOORESVILLE, NORTH CAROLINA, UNITED STATES, September 7, 2021 /EINPresswire.com/ — Strata SFR today announced a 150 property Single Family Rental (SFR) Portfolio closed escrow on August 27th. The transaction took place between a private investor, RAC Properties of Athens, inc. and Chicago-based institutional Investor, Kairos Living.
The $22.6 million dollar deal is one of the largest real estate transactions to take place in Athens, GA over the last several years. Strata SFR, a Single-Family-Rental Portfolio and Build-For-Rent brokerage headquartered in Mooresville NC brokered the deal in cooperation with Rise Property Group and broker Joey Galanti out of Atlanta. The deal is part of a trend in the Single-Family-Rental sector where large rental companies are consolidating medium-sized portfolios from local operators who have typically spent years assembling rental property packages, many with the intent to exit to operators backed by substantial private equity groups. “Selling a large portion of my SFR portfolio to a large-scale institution was the perfect way to bring years of work to a successful close and clear a large grouping of SFR without the hassle of renovations or removing tenants. Strata did a great job of packaging, pricing, and finding a buyer for us,” said Rob Scott, President of RAC Properties of Athens, inc.
“Large rental property sales take a long time to bring to fruition and have lots of moving parts. I’m very glad that Strata SFR was able to bring this package to market and help navigate this long and ultimately fruitful deal for both buyer and seller, not to mention the hundreds and hundreds of residents that live in these homes. They will be well served by their new rental property owners,” said Adam Stern, CEO of Strata SFR.
About Strata SFR
Strata SFR is a purpose-built company focused on the Single-Family-Rental Sector. We bring together Build-For-Rent projects and lead the disposition of SFR Portfolios with a primary focus on the Southeast United States. Based in Mooresville, N.C., in Metro Charlotte, the company was founded in January 2020. To date, it has brokered more than $300 million in single-family rental home sales between owners and institutional investors.
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