Goldman Sachs, one of the country’s top investment banks has recently made a recent purchase in the residential space with a lofty deal in Brevard County. The buy features a group of rental homes located in suburban Palm Bay, Florida. According to records, the companies listed on the $45 million dollar deal are two prominent real estate investment groups under the Fundrise umbrella, which oversee Fundrise Interval Fund and their Growth EREIT VII. As a long-time real estate venture, this marks the second deal backed by Goldman, who previously took over a larger development with 120 single family units in Pensacola.
Real estate trends show that increasing rents have essentially made the southern part of the country a hotbed for investors looking to get in on the action. Similar activity is also taking place in states like Tennessee, North Carolina, and Texas with major shifts in population. Some markets have seen peak interests alongside rent hikes as much as 30% in the past two years. Median incomes in the area sit at roughly $62,365 with a city population of just over 20,000. Additional investors are looking to capitalize on the opportunities as the markets continue to encounter higher inflation,rising interest rates, and a great re-migration.
