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Partners Group to Buy US Rental Homes for Over $1 Billion

  • Bulk of houses are in Sun Belt cities, owned by Fortress
  • Single-family rentals draw flood of investment in pandemic
Updated on

Partners Group Holding AG has agreed to buy more than 2,000 rental houses owned by Fortress Investment Group, according to people with knowledge of the matter -- the latest bet on US residential real estate by an alternative asset manager.

The transaction values the portfolio at more than $1 billion, said one of the people, all of whom requested anonymity because the deal is not yet public. Included are more than 2,000 new-build homes operated by Kairos Living and about 1,000 homes in contract. They are primarily located in the US Sun Belt, and cities such as Oklahoma City; Amarillo, Texas; Birmingham, Alabama; Tampa, Florida; and Atlanta.