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Goldman Sachs-backed funds buys rental home community on Westside

"A joint venture between two Fundrise-sponsored funds has acquired a community of 87 detached, single-family rental homes in Palm Bay, Florida.

The rental community, known as Cypress Bay, was developed by D R Horton Inc and completed in February of this year. The community of homes was purchased by a joint venture between the Fundrise Interval Fund and the Growth eREIT VII for approximately $45.7 million.

According to the Fundrise website, approximately 41% of the homes were occupied at the time of acquisition." Full Article.

Curious as to what this implies for the future of Residential Real Estate in Jacksonville? Contact us today.

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