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Second Avenue completes acquisition of Pacific Oak Residential, Inc. to expand single-family rental portfolio

Dec 19, 2024•9 months ago

Acquiring Company

Second Avenue

Acquired Company

Pacific Oak Residential

ChicagoJacksonvilleCommunitiesReal EstateFamilyProperty Management

Description

Tampa-based Second Avenue has acquired Pacific Oak Residential, Inc., a Jacksonville-based property management company overseeing 2,110 single-family homes valued at approximately $400 million. This acquisition expands Second Avenue’s portfolio to 5,300 homes under management, increases its assets under management (AUM) to $1.5 billion, and extends its footprint into six additional Midwest states.

Company Information

Company

Second Avenue

Location

Chicago, Illinois, United States

About

Founded in 2019, Second Avenue provides high-quality, professionally managed rental homes for today’s families. Its proprietary, technology-driven platform delivers end-to-end, institutional-grade solutions for home buyers, sellers, renters, and investors. The platform integrates all aspects of single-family rental investment and operations, ensuring seamless onboarding and efficient management.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed