News

Broadtree Homes Enters Binding Agreement to Acquire 175+ Homes in Atlanta

Rochester, NY – Broadtree Homes (BTH) has entered into a binding contract with a regional single-family home investor to acquire a  portfolio of nearly 180 homes in the Atlanta, Georgia market for approximately $14 million.  The Seller of the portfolio is a regional manager with a track record of results-driven performance, gained over thirteen (13) years in the single-family space, and will continue to operate as the property manager for the Atlanta portfolio.  The Seller has other assets in Mid-Atlantic and Southeastern markets.

With only title and HOA reviews remaining, Broadtree is nearing the completion of due diligence, and expects to close in mid-June.

Portfolio characteristics:

  • In most instances, every major system in the homes has been rebuilt and modernized from electrical, plumbing and HVAC to structural and finish work.
  • Current occupancy of 92%
  • Average tenancy duration of approximately three (3) years
  • Average home price under $80,000 with average cost per square foot less than $50.00