The initiative aims to improve affordable housing availability for lower- and middle-income groups. Credit: JazK2 via Shutterstock.

Wrightwell, a real estate platform, has partnered with Bain Capital’s Insurance team and Saluda Grade to channel up to $300m into the single-family rental (SFR) and build-for-rent (BFR) housing sectors in the US.

The initiative is a response to the pressing need for residential housing in the US and aims to improve affordable housing availability for the lower- and middle-income demographics.

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Wrightwell has also concluded its latest funding round aimed at propelling a nationwide expansion. The company is set to broaden its full-service real estate investment and operating platform across the US.

Wrightwell co-founder and CEO Anthony DePalma said: “We are thrilled to welcome Bain Capital to our platform and to deepen our longstanding partnership with Saluda Grade. Both organisations bring extensive expertise in direct investments in US housing and financing operating companies.”

“In addition to executing for captive capital, our platform helps enable all market participants to leverage our full-service institutional-quality operations for all their real estate needs. Together with our investment partners, we have assembled an outstanding team to drive Wrightwell forward as a top-tier national real estate investment and operating business.”

The partnership’s synergy is expected to foster the creation and enhancement of cost-effective housing solutions.

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To spearhead the expansion, Wrightwell has inducted several industry veterans into its executive team. Chris Poston, now executive vice-president of Property and Asset Management, joins from Rothesay Life and will operate from Atlanta, Georgia.

Meanwhile, Mark Woodling assumes the role of executive vice-president of Brokerage, bringing experience from eXp to the Dallas, Texas-based position.

Jonathan Salyer has been appointed as executive vice-president of Construction after his tenure at Darwin Homes, and Erin Taylor is the new executive vice-president of Finance and Accounting, previously from Fundrise. Both will be based in Phoenix, Arizona.

Wrightwell co-founder and COO Alex Kahn said: “We are excited to add such a deep bench of industry veterans to our team. Their expertise, deep experience and understanding of the US housing market will strengthen Wrightwell’s efforts to establish itself as a key provider of real estate operating and investment services to all market participants.”