Second Avenue Acquires Jacksonville-Based Pacific Oak Residential, Inc.

Second Avenue, a Tampa-based full-service single-family rental platform, today announced its acquisition of 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 and increases its assets under management (AUM) to $1.5 billion.

The acquisition also extends Second Avenue’s footprint into six additional Midwest states, bringing its total operating presence to 21 states across the United States. The Pacific Oak portfolio complements Second Avenue’s existing properties and further highlights the company’s ability to deliver institutional-quality management and yield optimization.

“This transaction builds on a trusted partnership,” said Michael Gough, President of Pacific Oak Residential, Inc. “In our earlier collaboration managing a 255-home portfolio, Second Avenue increased NOI by approximately 30% within seven months, underscoring their operational expertise and capacity for value creation.”

Michael Rothman, Co-Founder and CEO of Second Avenue, commented: “This acquisition is an exciting step as we head into an active 2025, during which we plan to acquire an additional 2,000 single-family homes for our existing and new PropCo partners. We also have a robust pipeline for third-party property management opportunities. With a 188% CAGR in home count growth since 2019, we are on track to manage 10,000 homes by the end of 2026, positioning us among the top 10 single-family rental operators in the country.”

About Second Avenue

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.

With $1.5 billion in AUM, Second Avenue is privately held and headquartered in Tampa, FL, with regional teams across the United States. Michael Rothman, Co-Founder, Managing Member, and CEO of Second Avenue, previously served as Founder, CEO and Chairman of SMS Assist, which merged with Lessen in 2023, achieving a combined valuation of over $2 billion (Lessen). Institutional stakeholders in Second Avenue include strategic partners Monroe Capital (Monroe Capital) and BLG Capital Advisors (BLG Capital Advisors), as well as other distinguished real estate executives.

For more information, please visit: www.secondavenue.com.

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