Greystar Real Estate Partners and Canada Pension Plan Investment Board (CPP Investments) are just getting started in the purpose-built single-family rental market.

The two have formed a new joint venture to develop and acquire communities in this booming segment in the US.

CPP Investments and Greystar have allocated approximately $840 million in equity to the joint venture. CPP Investments will own a 95% stake and Greystar will own the remaining 5%.

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