Roofstock, an end-to-end online platform for single-family rental (SFR) investing, has acquired property management tech platform Great Jones to simplify property management for its rapidly growing user base of remote retail investors. This acquisition marks an important step in expanding Roofstock’s property owner services to support the entire life cycle as investors grow and manage their investments. With the addition of Great Jones, Roofstock further enables a fully digital retail investing experience typically only available to larger investors, which covers trading, managing and optimizing asset portfolios for maximum performance. Great Jones will continue to grow and operate as a standalone entity under the Roofstock umbrella.
After raising more than $30 million in venture financing, Great Jones has more than 5,000 homes under management. The company brings a digitally-native, consumer-tech lens to what historically have been analog property management processes, from leasing and maintenance to property optimization and ongoing customer service. Great Jones’ scale helps single-family rental (SFR) investors buy with more ease and confidence across key markets, without the worry of finding local property managers for each property.
“We are excited to announce the acquisition of Great Jones, which represents our second acquisition this year and third since our founding. I’m particularly thrilled to welcome Great Jones founders Jay Goldklang and Abigail Besdin and the rest of the team to provide our customers with technology that is proven to simplify property management and maximize returns,” said Gary Beasley, CEO and co-founder of Roofstock. “Given the strong performance of housing even throughout the pandemic and solid supply/demand fundamentals, there has never been a better time for investors to build their single-family rental portfolios.”
Roofstock empowers individuals with a digital, user-friendly and data-driven approach to buying, selling and owning a rental property. Great Jones builds on Roofstock’s tech-enabled services for owners, including Stessa, an online investment management solution for individual real estate investors, which it acquired earlier this year. Roofstock’s end-to-end approach to real estate investing provides investors of all sizes with more opportunity to invest in, and financially benefit from, the world’s largest asset class, with access to data and tools that simplify and streamline the process.
“Roofstock is unequivocally the leader in making rental investing easy and accessible,” said Jay Goldklang, CEO and co-founder of Great Jones. “The combined Great Jones and Roofstock team is unmatched in experience and scale. Together, we will serve investors throughout their lifecycles and across more markets, bringing them a holistic digital platform and capabilities that have historically only been available to large investors.”
Roofstock also announced today that founding Zillow executive Chloe Harford and experienced commercial real estate executive Craig Robinson have joined its board of directors.
LionTree served as financial advisor to Roofstock.
