Avanta Residential & Iron Point Partners Joint Venture

  • Location

    Sunbelt States + Colorado

  • Asset Class

    BFR/SFR

  • Units

    3000

  • Financing

    Closed   3/27/2021

Avanta Residential & Iron Point Partners Joint Venture

The Assignment

Avanta Residential, decided to leverage their experience in military housing and multifamily development to launch a Build-for-Rent (BFR) platform with the intent to develop a portfolio across the U.S. While they had a large pipeline with more than ten potential development sites and a total estimated cost to develop of $750 million, Avanta needed the financial resources to execute. Walker & Dunlop was approached to identify a Limited Partner investor for this new venture. 

The Solution

Heather McClure and Jeff Price led the Walker & Dunlop team in identifying a private equity group interested in deploying capital into the BFR space, ensuring that the investor’s business thesis aligned well with Avanta’s vision for their communities. 

The Results

Our team structured a $200 million joint venture, limited partnership for Avanta Residential, giving them the ability to execute the business plan of building over 3,000 BFR units in Colorado, Texas, Georgia, Florida, Tennessee, Arizona, North Carolina, and South Carolina with plans for more. This transaction was one of the first of its kind, as BFR was just starting to attract investor attention at the time. Walker & Dunlop’s Heather McClure commented, “Our team was honored to advise Avanta in this programmatic raise. Combining the focus of our structured finance group with the strength of our investment sales division allowed Walker & Dunlop to identify a limited equity partner whose experience and capital structure aligned well with Avanta’s vision and strong execution capabilities.”

Avanta Residential and Iron Point Partners Enter Joint Venture Agreement - Hunt Companies