DENVER—Atlas Real Estate, a full-service real estate company specializing in investment
brokerage, property management and institutional acquisition, announced that it has entered into a joint venture (JV) partnership with San Francisco-based DivcoWest to invest $250 million of equity in single-family homes as rentals throughout the Western United States.
The JV expects to deploy $1 billion acquiring and renovating homes in high-growth states, including Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.
“DivcoWest’s partnership with Atlas is a testament to our decade plus history as an acquisition partner and the long-standing relationships we have cultivated with institutional investors since our inception,” explains Ryan Boykin, co-founder of Atlas Real Estate. “The start of this new joint venture also points to the strength of the SFR housing sector and to the full-service real estate investment platform Atlas has created.”
“The new partnership between Atlas and DivcoWest enables us to live up to our mission as a company: ‘To Uplift Humanity Through Real Estate,’” says Tony Julianelle, CEO of Atlas Real Estate. “The joint venture will function to increase the inventory of single-family rentals in Atlas-managed markets, presenting a tangible opportunity to serve people and create a positive resident experience while helping meet the supply demands by providing high quality housing.”
Since its inception in 2013, Atlas Real Estate has been recognized as a leader in the real estate industry. The Denver Business Journal named Atlas as a Fast 50 Honoree, Bank of America selected Atlas as one of its Colorado Companies to Watch, and ColoradoBiz Magazine has honored the firm with the Best of Colorado: Property Management award for the past four consecutive years.
Founded in 1993, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Los Angeles, Menlo Park, Boston, Washington DC and New York City. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines
entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world’s most forward-thinking companies and investors.