October 7, 2016
Broadtree Homes acquired a portfolio of 37 single-family homes in suburban Atlanta, GA, for a total purchase price of $2.6 million. The Rochester, NY buyer struck the deal with American Homes 4 Rent. Tones Vaisey PLLC represented the buyer. Broadtree Homes is a private REIT managed by Broadstone Real Estate LLC.
The houses average approximately 1,440 square feet. As of closing, the portfolio was more than 97% occupied. Broadtree currently owns 301 single-family homes in the Atlanta area.
“Broadtree expects to announce additional multifamily community and single-family rental home portfolio acquisitions throughout the fourth quarter, as we grow our diversified residential income REIT,” said Amy Tait, chairman and CEO of Broadstone.
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