About Haven's $1B SFR Portfolio

Earlier this year Haven Realty Capital achieved a significant milestone when its single-family rental portfolio has surpasses $1 billion in value. The firm owns 34 communities on nine states totaling 3,480 homes.

“As a result of the blended experience, we had a high level of conviction that creating Dedicated Rental Communities in a single location could bring much needed rental housing to residents as well as provide a certain comfort level to investors looking at entering the SFR market,” Sudha Reddy, managing principal at Haven Realty Capital, tells GlobeSt.com.

Reddy says that the firm has been able to quickly scale its portfolio due to deep experience in the sector. It has been investing in the SFR space since its inception in 2010. “Haven’s experience in SFR, multifamily and homebuilding allowed us to recognize the need for high quality, larger floor plan rental homes earlier than most operators,” he says. “Haven’s experience acquiring, renovating, leasing, and managing large portfolios of scattered site homes allowed us to better understand the SFR renter profile and the increased length of tenancy that accompanies SFR.”

Haven isn’t exclusively active in the SFR and BTR sectors. It also invests in multifamily housing, experience that Reddy says has helped to better understand operating a single asset. “Haven’s experience in the value-add multifamily space allowed us to recognize that investors’ strong comfort level with the asset class was due in large part to the single location rather than the scattered nature of an SFR portfolio,” he explains.

The team is also seasoned in the SFR market. Reddy notes that all of the pricipals have been with the firm for a decade, and Richard Bunch, Haven’s head of construction, has 40 years of homebuilding experience that he gained prior to joining Haven in 2012.  “As a result, the key principals at Haven were able to see the opportunity and execute the vision quickly based on our collective experience and networks,” says Reddy.

Haven is also expanding into new markets as it grows its portfolio, but Reddy says that they are relying on experienced partners. “We are working with homebuilders in numerous markets to help us develop and build projects,” he says. “We are very user-friendly and we have found that developers and homebuilders really enjoy working with us.”

The company isn’t slowing down. It expects to add an additional $1 billion in assets in 2022, doubling the size of its current portfolio. If that happens, the company will be in the top 10-15 BTR investors in the U.S.