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Investing.com -- Brookfield Asset Management (TSX:BAM) Ltd. is close to finalizing a deal to acquire approximately 3,800 single-family rental properties for around $950 million, Bloomberg News reported. The acquisition is set to be made through Divvy Homes, a startup company, as per an anonymous source familiar with the situation told the news outlet.
The majority of the properties, about 65%, are located in key markets such as Atlanta, Dallas, and Tampa. The source, who wished to remain unnamed due to the private nature of the deal, also revealed that post-acquisition, Brookfield’s subsidiary, Maymont Homes, will be responsible for an estimated 20,000 properties.
However, it's important to note that the deal is not yet finalized and there's a possibility it may not proceed. Both Brookfield and Divvy have not made any official comments on the matter.
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