Walton Global, a real estate investment and land asset management company with $3.6bn under management, announced a joint venture with Rockpoint, a real estate private equity firm based in Boston, to support demand for single-family homes in the form of rental communities across the US. Rockpoint intends to invest up to $300m in equity in Walton’s Build-to-Rent (BTR) line of business that is expected to total up to $1bn in real estate assets.
What is Rockpoint’s expertise in this market?
Rockpoint brings significant experience to this investment portfolio in the single-family rental market including both build-to-rent communities and the acquisition of existing homes, focusing on high-quality, well-located housing in select growth markets throughout the US.
Walton’s BTR platform was launched in 2021 with the goal of offering new housing solutions in high demand home and rental markets. The joint venture is initially focusing on targets within Walton’s existing Master Plans and over 81,000-acre land portfolio across the U.S.
What were Walton Global’s thoughts on the deal?
“Walton’s experience in land and our large network of top builders, coupled with the institutional knowledge Rockpoint brings to the BTR space, strategically positions this joint venture to create needed housing for people across the country who are choosing to rent versus own,” said Bill Doherty, CEO of Walton Global commenting on the joint venture.
Walton has an initial pipeline of about 3,500 units in expanding MSAs like Atlanta, Austin and Jacksonville, that are targeted to be part of the joint venture. To execute the BTR strategy, the joint venture is partnering with top home builders to develop the communities.