ResiShares Announces Funding, Strategic Partnership with Marketplace Homes
DETROIT and OAKLAND, Calif., May 4, 2021 /PRNewswire/ -- Single family housing fund manager ResiShares and real estate investment platform Marketplace Homes today announced a strategic partnership to acquire, renovate, and manage single family investment properties in appreciating neighborhoods. The partnership will focus on both upgrading housing stock for retail sale and on acquiring assets for ResiShares' long-term rental portfolios.
ResiShares' proprietary acquisition platform identifies markets, micro-neighborhoods, and assets with favorable yield, growth, and risk characteristics, based on a growing collection of data assets and optimization algorithms. As vertically integrated partners, Marketplace Homes will work with ResiShares on all aspects of its portfolio assets, including transaction support, construction, leasing, and property management.
Finance Michigan, the sole owner of Marketplace Homes, is taking an undisclosed equity stake in ResiShares. "We're very excited to build a vertically integrated real estate platform to buy, rehab and lease homes on a national scale. This is a win for ResiShares, Marketplace Homes and all of our customers," said Stan Dickson, CEO of Finance Michigan, Inc.
"We see this partnership as both a validation of our strategy by an experienced operator and the establishment of an integrated SFR platform with instant scale," said ResiShares CEO Michael Greene. "The past decade of institutional experience in SFR has shown vastly different return outcomes between investment strategies, even in the same housing markets. The top performers have combined asset selection edge with best-in-class operations on the ground."
Of the transaction, Marketplace Homes President William Dickson said, "We have invested tremendously over the past 16 months to redefine Marketplace as the premier provider of property management solutions, so the synergies between our two groups are compelling. This housing market is both one of the most exciting and most challenging in recent memory, and we are delighted to partner with a group that will navigate the volatility to find outperformance through the cycle."
Financing & Advisors:
Barnes & Thornburg LLP is acting as legal counsel to ResiShares on the transaction.
About ResiShares
ResiShares' mission is to offer investors a diverse choice of exposures to the $30 trillion single family home market with industry-leading transparency and precision. ResiShares has developed a proprietary research and acquisition platform to synthesize its founders' expertise in real estate, data science, and systematic securities investing. For more information, visit www.resi-shares.com or follow ResiShares on Twitter @resishares.
About Marketplace Homes
Marketplace Homes is a brokerage and property management company. The brokerage sells primarily new construction homes focusing on solving contingency problems. The property management division works with investors of all sizes to acquire, rehab, lease, maintain and sell investment properties in dozens of states. Marketplace Homes leverages its infrastructure, technology, processes and relationships to solve real estate's hardest problems. For more information, visit www.marketplacehomes.com.
About Finance Michigan
Finance Michigan is a private equity firm investing across varied industries. Past investments include commodities trading, banking, health care, food and beverage, telecommunications and real estate. Investments are made on an opportunistic basis. For more information, visit www.financemichigan.com.
CONTACTS:
To Contact ResiShares:
[email protected]
To Contact Marketplace Homes:
Jess Utter
[email protected]
To Contact Finance Michigan:
Stan Dickson
[email protected]
SOURCE ResiShares
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