An Australia-based REIT that accumulated about $1B in NYC assets, primarily single-family homes including a large number of Brooklyn brownstones in gentrifying neighborhoods, is looking for buyers.
US Masters Residential Property Fund is offloading the 479-property portfolio in bit and pieces, according to a report in City Limits. As of June, the REIT was listing 459 properties worth an estimated $858M. The remaining portfolio of 459 properties encompasses 853 housing units.
US Masters was the largest institutional investor operator owning a single-family rental portfolio in NYC from 2012 to 2022, according to the report. The publicly traded fund targeted acquisitions of one to four units, upgrading them with renovations, the report said.
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