Peter Lohmann breaks down an SFR company that raised $100 million in 2023 at a $1 billion valuation, backed by WestCap, MetLife, and KKR. It lets institutional investors outsource the whole operation—sourcing, buying, renovating, managing properties—through local partners instead of building it themselves.
They raised $100 million at close to a billion-dollar valuation. Pandemic era, SFR boom. In 2023, they raised $100 million at close to a billion-dollar valuation with investors like WestCap and MetLife on the cap table. KKR itself, interestingly, also invested in the company. Their pitch to institutional players was simple. Let us handle the sourcing, acquisition, renovation, and management through our network of local operating partners so you don't have to build that infrastructure yourself.
