Broadtree Homes Acquires 28 Additional Atlanta Homes; Seeks Further Investment Opportunities

ROCHESTER, N.Y., July 23, 2014 /PRNewswire/ -- Broadtree Homes (Broadtree), a private real estate investment company managed by Broadstone Real Estate, LLC, has acquired another 28 Single-Family Rental (SFR) homes from The Dominion Group (Dominion) for a total purchase price of approximately $2.4 million. The transaction closed on Friday, July 11^th, just seventeen days after Broadtree's acquisition of 127 Atlanta-area rental homes from Dominion. The purchase will continue to strengthen Broadtree's presence in the Atlanta, Ga. Market, where it has now invested $12.4 million.

The Dominion Group, headquartered in Baltimore, Md., initially acquired each of the homes individually, renovating and leasing them prior to the portfolio's sale to Broadtree.  Dominion will continue to partner with the company to manage the Atlanta portfolio and provide additional homes for possible future Broadtree acquisition.

"We are delighted to announce Broadtree's second Atlanta-area acquisition from our partner, The Dominion Group," said Broadstone Real Estate CEO, Amy Tait. "Broadtree holds a long-term view of the Single-Family Rental marketplace, and these renovated, rented homes will serve as core holdings for us as we seek additional portfolios and increased levels of capital from accredited investors."

With more than 14 million single-family home rentals in the U.S and only 250,000 (less than 1.8%) currently owned by institutional investment companies¹, the market is ripe for deliberate consolidation. Broadstone has released an infographic illustrating the changing landscape of Single Family Rental investing, and how it benefits both investors and renters alike.

You can view the Infographic here: www.broadstone.com/SFRIG

The principals at Broadstone Real Estate established Broadtree Homes to take advantage of the opportunities in this evolving sector. The consolidation and institutionalization of the Single-Family Rental industry in many ways mirrors how the multifamily apartment sector evolved over the past three decades, where company founders, Amy Tait and Norman Leenhouts, participated in the founding and leadership of Home Properties, an apartment REIT that went public in 1994*.

"In the aftermath of the financial crisis, a handful of institutional firms acquired hundreds of thousands of distressed homes through bulk sales and at auctions," Tait said. "Broadtree Homes takes a different approach, acquiring renovated, leased portfolios of Single Family Rental homes, providing accredited investors a more predictable, yield-oriented investment option in this emerging and underserved asset class.  This consolidation of Single-Family Rental homes is quite reminiscent of our experiences in the multi-family arena in recent decades."

About Broadtree Homes
Broadtree Homes is a private real estate investment offering managed by Broadstone Real Estate, LLC, a certified Women's Business Enterprise (WBE). Broadtree seeks to acquire portfolios of stabilized, single-family rental homes in multiple markets across the U.S., and currently holds a diversified, geographically dispersed portfolio of homes in Western New York; Palm Beach County, Florida; the Atlanta, Georgia area; and the Greater Minneapolis, Minnesota area.

Company leadership is excited to offer accredited investors a chance to participate in the consolidation of this emerging, underserved asset class, without the effort and risk of becoming a direct landlord. The offering is open for investment by accredited investors, with a minimum initial investment of $50,000. Shares are offered directly via private placement.  For more information, visit www.broadtreeinfo.com or contact a member of the firm's Investor Relations team.

¹ http://www.rentalhomecouncil.org/media/14-03-26-NHRC-Launch-Release.pdf

*Broadstone Real Estate, its principals and affiliated REITs are not currently affiliated with Home Properties, Inc.

SOURCE Broadstone Real Estate