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Peninsula Capital Corp Completes Acquisition Of 174 Houses In Rochester, Ny

Mar 23, 2022•over 3 years ago

Acquiring Company

959 U.S. Single-Family Rental Units

Acquired Company

174 Houses

TorontoReal Estate

Description

Peninsula Capital Corp. (“PCC or Peninsula”), a private Canadian corporation, is pleased to announce that it has closed its acquisition of 174 houses (213 units) in Rochester, NY for an aggregate purchase price of $12.75 million excluding transaction costs. This represents Peninsula’s entry into its 2nd market and allows PCC to increase the velocity of its acquisition strategy across multiple markets.

Company Information

Company

959 U.S. Single-Family Rental Units

Location

Toronto, Ontario, Canada

About

The acquired portfolio consists of 959 single-family rental units located in four high-growth U.S. markets. These properties include a mix of 2, 3, and 4 bedroom units averaging approximately 1,100 square feet. The properties are stabilized with strong occupancy and are projected to generate immediate cash flow. This portfolio enhances Peninsula's operational capacity in economically resilient markets.

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M&A Insights

Based on deal data
Integration timeline
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Tech stack consolidation
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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