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:
inquiries@resi-shares.com
To Contact Marketplace Homes:
Jess Utter
jess.utter@marketplacehomes.com
To Contact Finance Michigan:
Stan Dickson
sdickson@trowbridgehouse.com
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SOURCE ResiShares