Las Vegas Home Price Rebound Continues With Institutional Fund Investors.
Las Vegas, NV - Savant Investment Partners (formerly Savant Equity Group) has announced that it has accepted a $100 million open commitment assignment for single family home acquisitions in the southern Nevada housing market on behalf of an institutional investor.
Savant Investment Partners is a Las Vegas, Nevada based real estate investment firm, which handles a wide variety of real estate investment matters across the U.S. including multi-family, office, industrial, and land investments. Savant has recently accepted an assignment from a California based real estate “hedge” fund to acquire up to $100 million of single family homes in the Las Vegas area. The quickly recovering housing market in areas like Las Vegas and Phoenix has become a prime focus for institutional investors of all genres.
“Demand for single family housing, which is a significantly undervalued asset class, continues to grow,” says Jordan Wirsz, CEO of Savant Investment Partners. “Institutions, pensions, endowments and hedge funds are paying more and more attention to what is arguably the greatest value investment opportunity in recent history. Many Chief Investment Officers (CIOs) look at single family housing as an inflation hedge with a dividend, which in many instances can be purchased below replacement cost.”
Savant Investment Partners has teamed up with local Las Vegas real estate brokers to facilitate the large scale acquisition and transactional management process. Wall Street executives and fund managers aren’t the only people paying attention to single family homes for investments. In fact many well-funded individual investors are flocking to the single family housing asset class. According to reports, many well-known investors are reportedly buying as much real estate as they can get their hands on. “Single Family Homes is not new territory for us,” said Mr. Wirsz. He continued, “although in the past much of our business has been in commercial real estate, we have also been quite active in residential real estate because of the tremendous value which can be garnered at today’s prices.
Investing in single family homes is an opportunity to take advantage of the extraordinary mispricing phenomenon that followed the housing crash in recent years. Wirsz added, “The daunting task of selecting, underwriting, acquiring and managing single family housing investments for large investors can be difficult to scale. But now with firms like Savant Investment Partners, that process is manageable for large investment firms who don’t have the resources or desire to manage the day to day operations of acquiring real estate…Especially in the volume of transactions required to invest a substantial amount of capital into single family housing.”
Savant Investment Partners is manages the real estate affairs of an estimated $200 million real estate portfolio ranging from “Class A” multi-family projects, industrial properties, development land, and agriculture land.