skip to main content

In a market experiencing unprecedented change, parties involved in high-stakes real estate deals need a steady, trusted hand to guide them. The Paul, Weiss Real Estate Practice leverages a history of executing every kind of real estate property transaction and unparalleled business and legal acumen to help the most complex projects succeed amid volatile economic conditions.

Tricon Residential Forms New $5 Billion Single-Family Home Joint Venture

Paul, Weiss advised Tricon Residential Inc. in the formation of a joint venture with Teacher Retirement System of Texas, Pacific Life Insurance Company and a leading global investor to acquire single-family rental homes targeting the middle-market demographic in the U.S. Sun Belt.

The joint venture will have an initial equity commitment of $1.4 billion and will allow investors to increase their total commitment to $1.55 billion, including Tricon’s coinvestment of $450 million, representing approximately $5 billion of purchasing power, including associated leverage. Over a three-year investment period, the joint venture, SFR JV-2, is expected to acquire more than 18,000 single-family rental homes primarily from resale channels, complementing Tricon’s other investment vehicles targeting new single-family rental homes.

The Paul, Weiss team included real estate partner Salvatore Gogliormella and tax partner Scott Sontag.

© 2022 Paul, Weiss, Rifkind, Wharton & Garrison LLP

Privacy Policy