Haven Realty Capital and JPMorgan Chase's asset management arm said they will invest up to $1 billion to develop build-to-rent single-family homes across the country, according to a November 15 announcement. It refers to a process where developers construct an entire community of typically detached single-family homes that are later rented out by an operating partner. The trend gained steam during the COVID-19 pandemic as demand for single-family homes and suburban living skyrocketed. Institutional investors like Fundrise as well as pension funds, and public companies have been steadily acquiring single-family homes to rent for a profit. He told Insider in early November that the build-to-rent trend is a "useful response to the market's needs."

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