ATLANTA, March 22, 2021 /PRNewswire/ -- Upward America, the single family rental venture formed by Lennar Corporation (NYSE:LEN and LEN:B), has selected RESICAP to be its primary property management and maintenance provider throughout the nation. Founded in 2010, and currently the leading vertically integrated solution for institutional owners of single-family rental assets, RESICAP has the capacity and experience to handle the more than $4 billion of build-to-rent homes Upward America anticipates acquiring across dozens of markets.RESICAP has the capacity and experience to handle Upward America's $4 billion build-to-rent initiative.
"Upward America and its direct affiliation with Lennar are uniquely positioned to scale the B2R strategy at an aggressive rate," said Andy Capps, Founder and Co-CEO of RESICAP. "Our single-family rental operating experience, Upward America's real estate prowess, and Lennar's high-quality housing product is a combination sure to make this venture a success."
RESICAP's property management division, ResiHome, will be responsible for leasing and property management of all the homes acquired by the Upward America team. ResiHome has managed over 23,000 single-family homes for some of the largest institutional owners in the industry and is capable of managing all aspects of the SFR lifecycle.
"The team at RESICAP has a proven track record of managing large portfolios and bringing transparency to the process. We are looking forward to our partnership and continued growth," said John Gray, President of LennarSFR.
ResiHome has already begun successfully leasing homes for Upward America in growth markets across the sun belt. "The demand for Upward America's product has been very strong because of the desirable neighborhood locations, superior home and amenity quality, and attractive rental rates," said Devin Hickox, ResiHome's VP of Property Management.
RESICAP is the leading vertically integrated solution for institutional owners of single-family residential assets in the United States. Primary services include acquisition and valuation, construction, maintenance, property preservation, leasing, property management, and dispositions. To learn more about RESICAP, or its property management division ResiHome, visit resicap.com or resihome.com, respectively.