GPM US Single-Family Rentals

The US Single-Family Rentals Strategy (the ‘SFR Strategy’) makes direct investments in US residential real estate, acquiring properties via scattered site, BTR or Net Zero Energy BTR channels. The focus is on stable rental income and long-term capital appreciation.

  • The strategy is actively managed and not managed in reference to a benchmark
  • Established track record, investing since 2012 across more than 5,800 homes and lots1
  • Currently invested across 12 states, 18 markets
  • In our view, there are favourable long-term demand/supply dynamics, despite short-term market volatility
  • COVID-19 was the first, large-scale stress test of SFR since institutional ownership began in 2012 and the asset class has, in our view, proven its resiliency, delivering strong performance across SFR sector KPIs
  • We expect the positive tailwinds for the SFR sector to continue, with the opportunity for investors to diversify existing US real estate holdings


 

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1. First investment made by Aalto Invest, which was acquired by Man Group in January 2017.

Approach

We target the top 50 metro areas that exhibit positive macro and demographic trends with a focus on the South region of the US. We continuously analyze markets across the country in order to build and evolve a diversified portfolio of rental homes in markets that we feel are poised to outperform in terms of overall cash flow yield and home price appreciation.

In addition to market selection, Man GPM focuses asset selection on high quality, newer homes with great access to schools, jobs, services and entertainment.

Man GPM’s dedicated SFR acquisition and development team has sourced properties through all major channels including (1) existing homes, (2) BTR homes, and (3) net zero energy communities.

Man GPM employs a third-party property management model with a focus on a small number of national SFR property managers with a total of 50k units under management. This model allows Man GPM to: (1) take advantage of our PMs infrastructure, economies of scale and broad market diversification, (2) test, enter and exit markets efficiently, and (3) employ a champion/challenger model in all of our markets to avoid single manager reliance in any individual market, ensuring competitive tension.

Oversight is provided by our dedicated asset management team located in our operational headquarters in Charlotte, NC. Our team drives PM performance through real-time analytics, via proprietary software that enables us to efficiently manage a geographically diverse portfolio from a central location.