Evanston-based Magnetar Capital is selling a portfolio of single-family homes to Highland Capital Management for $300 million.
Dallas-based Highland, founded by Jim Dondero and Mark Okada, is acquiring the homes through its affiliate NexPoint Real Estate Advisors, according to Bloomberg. The homes are managed by VineBrook Partners.
Representatives from Highland, Magnetar and VineBrook declined to comment.
The deal comes amid new interest in single-family rentals from large investors. AG Mortgage Investment Trust, managed by Angelo Gordon, last week said it had reached an agreement to buy 1,225 single-family rental homes for about $140 million.
VineBrook managed more than 2,600 homes at the end of last year, according to Amherst Holdings. [Bloomberg] — John O’Brien