Brent Elkins and Jeremy King Join Residential Rental Service Platform to Continue Transforming the Asset Class
NEW YORK–(BUSINESS WIRE)–Avenue One, a technology service platform and investment marketplace for institutional owners, buyers and sellers of residential rental real estate, has announced the additions of Brent Elkins and Jeremy King to expand the reach of Avenue One’s platform with investors.
Elkins was named Head of Real Estate Capital Partnerships, responsible for forming and maintaining relationships with traditional real estate investors within investment management firms and institutional plan sponsors. He will work closely with King, who joins as Head of Alternative Capital Partnerships and will focus on alternatives investors such as insurance companies, private credit investors, and other institutional allocators.
“Jeremy and Brent are the right leaders to take us to the next level as we transform the historically manual residential rental asset class,” said Ryan Stroker, Co-Founder and Chief Executive Officer of Avenue One. “The depth and breadth of their expertise, and the power of their partnership, will fuel the expansion of our institutional relationships and support our work enabling local real estate businesses across the country.”
Elkins has led global business development at prominent firms in the real estate investment industry, including most recently as Managing Director and Head of Fundraising at Beacon Capital Partners. He previously served as a Managing Director and Global Head of Real Estate Distribution at BlackRock. Earlier in his career, Elkins was a Senior Vice President at Colony Capital (now DigitalBridge) and an Executive Director at Morgan Stanley.
King previously led business development at Insight Investment, the $800 billion fixed income investor unit of BNY Mellon, where he headed a team focused on building investment solutions for life insurance companies, pension plans, and other institutions across active, hedging, and specialist credit strategies. Prior to Insight, he held senior investment structuring, origination, and sales roles at Guggenheim, Unigestion, and Man Group.
Avenue One recently announced a strategic funding round of $100 million, which is being employed to support the growth of its institutional marketplace, enhance the company’s platform, and expand its local partner network.
Avenue One simplifies institutional access to a large and complex asset class by offering a comprehensive suite of services. The solutions can be fully customized and scalable for each capital partner, in contrast to less flexible conventional formats such as commingled funds and REITs. The Avenue One service platform combines proprietary data and a network of local partners to identify, acquire, renovate, lease, and manage residential rental properties on behalf of institutional investors. Its ecosystem of independent businesses – including brokers, contractors, title professionals, and property managers – provides local expertise to create and maintain portfolios of quality rental properties across the country. To date, Avenue One has contracted more than $400 million in goods and services through a robust network of over 400 local partners.
In addition to its tech-driven service platform, Avenue One offers a marketplace of services to buyers, owners, and sellers of residential real estate. In creating a first-of-its-kind in-house brokerage, Avenue One is at the center of facilitating the buying and selling of single-family rental properties at scale. By providing exceptional access to insights and trade color, Avenue One has been able to quickly attract a wide variety of market participants. In a little over two years, the company has expanded its operational footprint to 21 U.S. markets, closed and brokered thousands of transactions and deployed billions for investors.
About Avenue One
Avenue One is a technology service platform and investment marketplace for institutional owners, buyers and sellers of residential rental real estate. Avenue One’s platform connects local experts to institutional capital, making investing in housing debt and equity more efficient for institutions, while also supporting local businesses. For more information, visit www.avenueone.com.
Contacts
Media:
Joshua Greenwald
Stanton
(646) 504-7306
jgreenwald@stantonprm.com