Fundrise Interval Fund and Growth eREIT VII picked up 87 single-family properties in Brevard County as part of an ongoing southern spending spree.
Fundrise previously snatched up a 120-unit development in Pensacola and has been pouring money into other rental developments in states like South Carolina and Mississippi.
Ken Johnson, professor of real estate at Florida Atlantic University, said firms are following population trends and investing in previously disregarded regions of the country. Anecdotes abound about aspiring homebuyers having their bids avalanched by corporate competitors with deep pockets. But Johnson argued that corporate purchases remain a “drop in the bucket” of overall home transactions throughout the country.
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