Advenir and Oakley Group Form Joint Venture to Accumulate Portfolio of 8,000 BFR Units Throughout the Southeast and Midwest

 

David Oakley

BIRMINGHAM, AL -- Advenir, a Miami-based vertically integrated investor, developer, and operator of multifamily assets, has joined forces with Oakley Group, a Birmingham-based investor and developer of multifamily properties, to develop, acquire, and operate a portfolio of Single-Family Rental (“SFR”) / Built-for-Rent (“BFR”) properties. 

 

Formed in October of 2020, the joint venture, Advenir Oakley Capital, has the stated purpose of accumulating a portfolio of 8,000 BFR units in markets that demonstrate outsized demand stemming from strong job creation, positive in-migration, low taxation, an expensive housing market and local desirability.

 

Michael Krombach

Significant home foreclosures due to the Great Financial Crisis of 2007/2008 resulted in the emergence of a new sector: single family homes for rent (SFR).

 

 Financial investors found significant success acquiring, renovating, and renting homes that went through foreclosure and learned that there was healthy demand for the asset class.

As a result, developers began to explore the operational efficiencies of building purpose-built communities with homes for rent (BFR) and found great success in both leasing and operations in the Southwest United States. 

 

CONTACTS:

 

David Oakley, founder and CEO of Oakley Group, OG Capital, LLC and principal of Advenir Oakley Capital, LLC 205-913-4632 or david.oakley@og.capital

 

Michael Krombach, COO / General Counsel, OG Capital, LLC, and principal of Advenir Oakley Capital, LLC; 904-233-4608; Michael.Krombach@og.capital