Peninsula Capital has acquired a 959-unit single-family rental housing portfolio in the U.S. Midwest, the company announced.

The large acquisition significantly expands Peninsula’s U.S. footprint and and aligns with the company’s goal of scaling up its single-family rental platform, said the Toronto-based company. The assets are located in Kansas City; St. Louis, Indianapolis, and Columbus.

The deal gives Peninsula more than 2,500 units in the U.S.

“The Midwest U.S. offers attractive fundamentals—affordable housing, job stability, and high rental demand—which complement our data-driven investment approach,” said Peninsula President and CEO Mike Appelton.

The acquired portfolio consists of two-, three- and four-bedroom units averaging about 1,100 square feet. They are situated in established neighbourhoods near schools, employment centres and transit infrastructure.