ROCHESTER, N.Y., March 03, 2016 (GLOBE NEWSWIRE) -- Broadtree Homes, Inc. (BTH), a private Real Estate Investment Trust (REIT) managed by Broadstone Real Estate, LLC (BRE), is seeking multifamily communities and portfolios of single family rental homes (SFR) for acquisition. On March 3, 2016, BRE committed an additional $25 million of capital to BTH at the same price and terms available to other investors. This additional sponsor commitment more than doubles insider holdings in the REIT. BTH currently owns 473 diversified, geographically dispersed rental units in four U.S. markets, and now has the capacity to acquire another $100 million of residential properties.
“Broadtree Homes provides an efficient vehicle for investors to benefit from rising rents and occupancies as the U.S. continues to shift towards a ‘rentership society’,” said Amy Tait, Chairman and CEO of BRE. “This $25 million commitment is further evidence of our commitment to invest alongside shareholders and our belief in the residential space as we continue to grow our diversified residential income REIT.”
The BTH management roster boasts extensive residential acquisition and property management experience, including founding members of Home Properties, which navigated a successful IPO in 1994 and operated as a publicly traded, multifamily apartment-focused REIT until it was taken private by Lone Star Funds in October of 2015.
BTH seeks acquisitions via outright purchase, and via UPREIT transactions. UPREIT transactions, (where “UPREIT” stands for Umbrella Partnership REIT), provide a tax deferred exit strategy for owners of real estate who might otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax basis. These transactions enable the property owner to exchange owned real estate for an interest in a professionally managed portfolio that is diversified by geography, property type, and tenant.
About Broadtree Homes
Broadtree Homes (BTH) is a private residential income REIT that holds a diversified, geographically dispersed portfolio of 473 residential rental units in Western New York; Palm Beach County, Florida; the Atlanta, Georgia area; and the Greater Minneapolis, Minnesota area.
BTH remains open for investment by accredited investors only, with a minimum initial investment of $100,000. Shares are offered via private placement, and investor kits are available for download from the company’s website, Broadstone.com. Please see certain important disclosures regarding BTH at Broadstone.com/disclosures.