BOSTON, MA – Rockpoint Group, a global real estate investment management firm, announced it has formed an exclusive $250 million joint venture with Resicap, a leading owner and operator of single-family rental homes based in Atlanta, GA. Resicap’s fully integrated real estate platform provides expertise in the acquisition, construction and property management of high-quality rental homes with operations in 34 states and 59 markets. Together, Rockpoint and Resicap expect to buy, renovate, and lease 4,500-5,000 high-quality single-family rental homes at price points affordable to residents of established suburban neighborhoods in the Southeast U.S., Florida, and Texas.
The Resicap venture will expand Rockpoint’s footprint in the single-family rental sector to include a more diversified offering of price points and markets, complementary with Rockpoint’s recently announced $375 million joint venture with Dallas-based Invitation Homes, Inc. With the Resicap venture, Rockpoint expects to become a leading investor in the single-family rental home arena.
Rockpoint co-founder Bill Walton said, “This joint venture is a natural extension of our 26-year history of providing high-quality rental housing in demand-driven markets throughout the United States. We are pleased to partner with Resicap, a leading owner and operator in the single-family rental space.” Rockpoint Managing Member Tom Gilbane added, “We believe that single family rental housing will become a core asset class going forward for many institutional real-estate investors.”
Resicap co-founder Lance Popp commented, “We are delighted to be joining forces with Rockpoint Group, a globally recognized real estate investor and manager who shares our commitment to the residential rental space.” Co-founder Andy Capps added, “We look forward to scaling our portfolio, utilizing our successful platform and Rockpoint’s expertise to provide an exceptional tenant experience.”
Margaret Whelan of Whelan Advisory Group exclusively advised the parties on the venture.

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SAN DIEGO, CA – Walker & Dunlop, Inc. announced that it completed the sale of Valentina by Alta, a 110-unit newly constructed apartment community in the highly-coveted Small Italy neighborhood of San Diego, California.
Small Italy, which has been coined “Top Chef Alley,” has emerged as one of San Diego’s most sought-after neighborhoods, with top-rated restaurants, bars, and coffee shops. The location provides brilliant accessibility to six major freeways and is 15 minutes away from San Diego’s top employment hubs. Additionally, Valentina by Alta is within walking distance of Kilroy Realty’s new 220,000 square-foot office project on Kettner Boulevard, as well as IQHQ’s plotted 1.6 million square-foot waterfront life science campus.
Walker & Dunlop’s property sales team included Hunter Combs, Greg Engler, and Blake Rogers. The team represented the seller, Wood Partners, serving as broker and advisor for the disposition. Said Mr. Combs, “We were thrilled to have played a part in the sale of this trophy asset to TA Realty.” He added, “Wood Partners exceeded expectations on Valentina with condo-quality finishes, top-notch amenities, permanently unobstructed bay views, as well as brilliant performance throughout the lease-up. Clearly investors agreed, as there was significant local, regional, and national interest.”
Completed in the summer of 2019, Valentina by Alta is a best-in-class asset and boasts over 15,000 square feet of amenity space. Community amenities include a pool and pool house, sky and bay terraces, a fitness center with yoga and spin studios, electric vehicle charging stations, surfboard and bike storage, as well as a weekly pleased hour.

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DALLAS, TX – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Fountains at Steeplechase in Plano, TX (Dallas market). The firm bought the garden-style property in 2013 and the sale closed on October 9, 2020.
Fountains at Steeplechase was built in 1985 and is located at 7301 Alma Drive. During the firm’s ownership period, Hamilton Zanze replaced the roof, upgraded windows, improved resident amenities, including the installation of a dog park, and added a model unit to improve leasing efforts and increase rental rates.
The property comprises 368 units with upgraded appliances, new flooring, resurfaced countertops, and upgraded hardware. Steeplechase’s one- and two-bedroom units average 857 square feet for a total of 315,368 rentable square feet. Community amenities include a clubhouse and fitness center, outdoor pool and fire pit, business center, playground, and dog park.
“We bought the property in 2013 from Aimco and carried out major renovations and unit upgrades,” said Anthony Ly, director of dispositions at Hamilton Zanze. “We initially implemented a business plot that focused on stabilizing occupancy and operations. But, Plano’s incredible growth during our hold period allowed us to capitalize on unit upgrades to boost rents.”
Fountains at Steeplechase is located in the Plano submarket of the Dallas/Fort Worth metro area. Despite stay-at-home orders brought on by the coronavirus pandemic, occupancy in Plano registered 94.5% and demand in the Dallas metro outpaced supply 9,614 units to 6,936 units as of Q3 2020, according to RealPage Analytics. After the effects of the pandemic subside, economic and job growth are projected to continue in the Dallas region. Fountains at Steeplechase is located along U.S. Route 75, providing direct access to major employers and entertainment in Downtown Dallas.

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