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BTR Daily - January 29, 2025 - Doorvest acquires Rubik

BTR Daily - January 29, 2025 - Doorvest acquires Rubik

Doorvest acquires Rubik. JLL sells 80-unit SFR portfolio. Cushman & Wakefield arranges sale. Parkland starts land development. Charlotte a hot BTR market. Two new BTR deals.

Matt H & Aid Sopjani
January 29, 2025

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NEWS ROUNDUP

M&A: Doorvest acquires Rubik. Doorvest has announced its acquisition of Rubik, a company specializing in data-driven sourcing and underwriting tools for SFR properties. Andrew Luong, CEO and co-founder of Doorvest, emphasized the significance of the acquisition, stating, "This acquisition is a game-changer for Doorvest, enabling us to acquire more high-quality homes for our customers and move closer to becoming a fully integrated real estate investment platform." Amar Sehic, CEO and co-founder of Rubik, expressed enthusiasm about the partnership.

DISPOSITION: JLL sells 80-unit SFR portfolio in Indiana. JLL has sold 3 scattered SFR portfolios that included 80 homes across Indianapolis, IN. JLL’s Daniele Colbertaldo brokered the transaction.

DISPOSITION: Cushman & Wakefield arranges sale of forward takeout BTR opportunity. Elmington Residential has successfully completed the acquisition of Westfield Village, a BTR community in Covington, GA. The transaction was structured as a forward takeout opportunity, with Rocklyn Homes serving as the developer and seller. Cushman & Wakefield’s Parker Caldwell, Sim Patrick, Nelson Abels, and James Wilber arranged the sale.

DEVELOPMENT: Parkland starts land development at 67-unit BTR in Lawrenceville, GA. Parkland Residential has initiated land development for Sugarloaf Crest, a BTR community comprising 67 stacked townhomes in Lawrenceville, GA. Situated on a 5.2-acre site, this project is located directly across from the company's existing BTR community, Sugarloaf Landing, which consists of 114 units. According to Jim Jacobi, President of Parkland Residential, "The site is cleared, and development is underway with townhome construction starting in July 2025."

READ: Charlotte a hot market for BTR development.

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