Revest Asset Management said today that it has begun Community Partners Limited Partnership, a $10 million private equity fund focused on distressed U.S. residential real estate.
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According to a press release, the fund will primarily own real estate in Southeast Florida, beginning with a portfolio of approximately 300 single-family rental properties. Revest's announcement declares the fund 75% deployed.
The Toronto-based firm is an active player in Florida real estate, drilling down on buying and renting distressed single-family homes in the Sunshine State's various gated communities.
Revest's operational headquarters are in Delray Beach, Fla.
