A portfolio of single-family rental homes has come full circle via Colony Starwood’s planned purchase of a 3,106-home portfolio from San Francisco-based alternatives investor GI Partners for $815 million.
GI was an early investor in the single-family-for-rent space, assembling the portfolio through its 2011 investment in Waypoint Real Estate Group. In 2013, Waypoint merged with Starwood Property Trust to form Starwood Waypoint, which itself combined with Colony American Homes last year to create the $7.7 billion Colony Starwood.
The purchase, announced last month, is expected to expand Colony Starwood’s holdings by about 13 percent, according to a filing with the Securities and Exchange Commission. About a third of the homes in the portfolio are in southern California, while more than 300 properties, including the one pictured, are in Atlanta.