OAKLAND, Calif.--(BUSINESS WIRE)--Roofstock, Inc., the leading marketplace for single-family rental (SFR) investment properties, today announced that it has acquired Dallas-based Streetlane PM LLC (“Streetlane”), which operates its SFR property management service under the brand Streetlane Homes (www.streetlanehomes.com).
Streetlane is one of a handful of top-caliber property management firms certified by leading institutional lenders in the space as an approved property manager for large SFR portfolios.
Founded in 2016, Streetlane currently manages approximately 2,100 SFR properties in five markets, including Atlanta, Chicago, Dallas, Las Vegas and Nashville. With the ability to be operational in new markets within 30 to 45 days, the company is poised to expand to other cities to service additional institutional investor clients.
“We are excited to welcome the Streetlane team into the Roofstock family,” says Gary Beasley, CEO and Co-Founder of Roofstock. “The combined capabilities of Streetlane and Roofstock create a compelling one-stop-shop for institutional investors who are looking for U.S. housing exposure but don’t have – or want to build – an operating infrastructure to acquire, renovate and manage a large portfolio of SFR properties.”
Roofstock will retain the existing management contracts of Streetlane, and the companies will work together to leverage Roofstock’s technology team to further enhance Streetlane’s offerings. The addition of Streetlane boosts Roofstock’s ability to help institutional investors efficiently gain exposure to SFR by leveraging Roofstock’s extensive sector expertise and complete suite of investor services.
The acquisition of Streetlane complements Roofstock’s existing partnerships with more than 40 certified local property managers nationwide which manage properties on behalf of Roofstock’s individual investor clients.
Roofstock looks forward to continuing to deepen and grow its relationships with quality local management firms, and with the acquisition of Streetlane, Roofstock can now offer a best-in-class property management solution for institutional investors as well.
Roofstock is the leading marketplace for investing in the $3 trillion single-family rental (SFR) sector, offering SFRs in 32 markets and 16 states nationwide. The company provides all of the resources for investors to buy, own and sell real estate online, including data analytics, property management oversight and other tools. Roofstock’s transparent, innovative marketplace empowers investors to own cash-flowing SFRs, diversify their investment portfolios and build long-term wealth through real estate. Based in Oakland, Calif., Roofstock has completed more than $1 billion of property sales since its website launched in early 2016.