This Week
  • The largest shareholder of IEC Electronics Corp. targets board.

  • Sandra Doorley is Monroe County's first female district attorney.

  • Margaret Rosenfeld runs the team-building efforts of HumanGrid.

  • After a slow start, area homebuilders are ending the year on an upbeat note.

  • Viewpoint Systems has been known to keep a close eye on its customers.

  • A recent visit to Ho Chi Minh City in Vietnam was an eye-opener for RIT students.

Broadtree buys rental homes in Atlanta for $2.4M

Rochester Business Journal
July 25, 2014

Broadtree Homes, a real estate investment company managed by Rochester-based Broadstone Real Estate LLC, has acquired 28 single-family rental homes from the Dominion Group for roughly $2.4 million.

The transaction closed July 11, 17 days after Broadtree's acquisition of 127 Atlanta-area rental homes from Baltimore-based Dominion. The purchase will continue to strengthen Broadtree's presence in the Atlanta market, where it has now invested $12.4 million, company leaders said.

The Dominion Group initially acquired each of the homes individually, renovating and leasing them. Dominion will continue to partner with Broadtree Homes to manage the Atlanta portfolio and provide additional homes for possible future Broadtree acquisition, the firms reported.

"Broadtree holds a long-term view of the single-family rental marketplace, and these renovated, rented homes will serve as core holdings for us as we seek additional portfolios and increased levels of capital from accredited investors," said Broadstone Real Estate CEO Amy Tait, in a statement.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 






What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google