Reszi Announces Closing of Fund VI With $35.4M Equity and Launch of Fund VII
Texas-based Reszi LLC, a single-family rental housing portfolio founded in 2020 by Chris Mitchell, announced the closing of Reszi Fund VI, LP, securing $35.49 million in equity commitments. With the private placement fund, Reszi acquired newly constructed single-family homes from national and regional builders across Arizona and Florida.
The fund, launched in June 2023, originally sought to raise $50 million from accredited investors – both retail investors and institutional participants.
“The successful close of Fund VI represents both an achievement and a foundation for what’s ahead,” said Mitchell, chief executive officer of Reszi.
Reszi also unveiled plans for Fund VII, which according to the company, will target $50 million in new equity to further broaden its footprint across key U.S. markets. In November, the fund received a $10 million equity commitment from an existing family office investor.
“Fund VII will allow us to deepen our presence in key markets and continue delivering value to our residents and investors alike,” added Mitchell.
Reszi said its $250 million structured credit facility and equity commitments continue to support its strategy of acquiring, leasing, and managing single-family rental homes in select high-growth U.S. markets. It aims to address the growing housing affordability challenge by offering high-quality rental homes and maintaining high occupancy and renewal rates.
Additionally, Reszi made a 5% distribution to investors on Dec. 15.
Reszi said it has established strong partnerships with national homebuilders, enabling it to acquire newly built homes at favorable terms through bulk purchases. Independent appraisals conducted by multiple U.S. banks indicate that certain properties were appraised at or above their purchase price at the time of acquisition.
The company’s investors include registered investment advisers, broker-dealers, and family offices.
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