BGO and 1Sharpe have launched a joint-venture that will invest in build-to-rent housing projects in the U.S.

Miami-based BGO has committed US$500 million to the project, the company announced. BGO originated in Canada through a predecessor company that subsequently merged with U.S.-based Green Oak. A global asset management and real estate operations specialist, BGO has an extensive Canadian footprint and is part of SLC Management under the umbrella of Toronto-based Sun Life, one of Canada’s largest institutional investors.

“BGO’s entry into the build-to-rent, single-family rental sector is driven by a strong, long-term conviction in the investment merits of housing which continues to benefit from demographically driven demand and a material deficit of housing units,” said BGO Co-CEO John Carrafiell in a news release.

The BGO-1Sharpe partnership will focus exclusively on acquiring purpose-built, connected single-family rental home communities in American secular growth markets with access to amenities, employment centres and strong school districts.

The JV has already closed on its first acquisition, a new 64-home community located in the Phoenix metropolitan areas. The partners also have an “extensive pipeline opportunities” located across sunbelt and Western markets.

Oakland-based 1Sharpe is an institutional investment manager and real estate operator.

Pictured: BGO-1Sharpe’s new 64-unit rental housing community in the Phoenix area.

Photo: Courtesy of BGO