Single Family Rentals
In 2010, Haven Realty Capital recognized an opportunity to acquire, stabilize, lease and manage distressed residential properties in working class neighborhoods. The strategy has provided a valid financial opportunity due to strong yield metrics and realized value appreciation. Equally as important, execution of the strategy aided in the stabilization of local neighborhoods and provided a viable and effective solution to the U.S. housing crisis.
Since inception, Haven Realty Capital has acquired, renovated, stabilized, and / or managed approximately 10,000 single family homes across multiple states.
Multifamily
Haven’s focus on the SFR industry has allowed it to identify compelling investment opportunities within other rental housing segments, namely the Multifamily industry.
For example, Haven was one of the original SFR entrants into the Las Vegas market in 2012 where it acquired over 600 single family rental homes. Due to its SFR exposure, Haven recognized that the Las Vegas market was well into a recovery before the broader investment market. As a result, Haven began investing in multifamily assets that were priced at outsized discounts due to the limited interest from the broader investment community. Similarly, Haven has launched acquisition efforts in its other established SFR markets. To date, Haven owns and operates over 3,000 multi-family apartment units.
Dedicated Rental Communities
Haven’s SFR and multifamily experience has led it to identifying the Build-to-Rent sector as an attractive area for investment.
Prior to Covid-19, Haven had been exploring alternative investment opportunities that blended the characteristics of single-family rentals and traditional multifamily. Haven was attracted to the exceptional long-term fundamentals that came with the single-family rental sector which included longer-term tenancy, increasing rental rates, and high occupancy. On the flipside, it was also attracted to the incredible operating and financing efficiencies that came with traditional multifamily properties.
Haven closed on its first DRC in 4Q19 and now controls over $1 billion in DRCs across 9 states. It has formed partnerships with numerous builders across the U.S. ranging from public homebuilders to privately held regional builders.