RESICAP Partners with Lennar's Upward America as Primary Property Management & Maintenance Provider
Upward America, a venture by Lennar Corporation (NYSE: LEN, LEN.B), has appointed RESICAP as its primary property management partner. This partnership aims to manage over $4 billion in build-to-rent homes across various markets. RESICAP, recognized for its extensive experience in handling single-family rental assets, will oversee leasing and management through its division, ResiHome, which has managed over 23,000 homes. The collaboration is expected to leverage Lennar's high-quality housing and RESICAP's operational expertise for rapid growth in the single-family rental market.
- Partnership with RESICAP enhances management capabilities for Upward America's $4 billion build-to-rent initiative.
- RESICAP has a proven track record, managing over 23,000 single-family homes.
- Strong demand for Upward America's product due to quality homes and attractive rental rates.
- None.
ATLANTA, March 22, 2021 /PRNewswire/ -- Upward America, the single family rental venture formed by Lennar Corporation (NYSE:LEN and LEN:B), has selected RESICAP to be its primary property management and maintenance provider throughout the nation. Founded in 2010, and currently the leading vertically integrated solution for institutional owners of single-family rental assets, RESICAP has the capacity and experience to handle the more than
"Upward America and its direct affiliation with Lennar are uniquely positioned to scale the B2R strategy at an aggressive rate," said Andy Capps, Founder and Co-CEO of RESICAP. "Our single-family rental operating experience, Upward America's real estate prowess, and Lennar's high-quality housing product is a combination sure to make this venture a success."
RESICAP's property management division, ResiHome, will be responsible for leasing and property management of all the homes acquired by the Upward America team. ResiHome has managed over 23,000 single-family homes for some of the largest institutional owners in the industry and is capable of managing all aspects of the SFR lifecycle.
"The team at RESICAP has a proven track record of managing large portfolios and bringing transparency to the process. We are looking forward to our partnership and continued growth," said John Gray, President of LennarSFR.
ResiHome has already begun successfully leasing homes for Upward America in growth markets across the sun belt. "The demand for Upward America's product has been very strong because of the desirable neighborhood locations, superior home and amenity quality, and attractive rental rates," said Devin Hickox, ResiHome's VP of Property Management.
ABOUT RESICAP
RESICAP is the leading vertically integrated solution for institutional owners of single-family residential assets in the United States. Primary services include acquisition and valuation, construction, maintenance, property preservation, leasing, property management, and dispositions. To learn more about RESICAP, or its property management division ResiHome, visit resicap.com or resihome.com, respectively.
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SOURCE RESICAP
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