Appreciate Holdings, Inc.
SFRWW
NASDAQ Capital Market0.00
USD
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Appreciate Holdings, Inc.
SFRWW
(NASDAQ Capital Market)
Recent
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Appreciate Holdings, Inc. (SFRT; SFRWW) operates as a holding company for an end-to-end single-family rental (SFR) marketplace and management technology platform that serves individual and institutional investors across the United States. The company functions through two primary segments: Management, which delivers leasing and property management services for SFR properties; and Marketplace, which provides real property sourcing and acquisition services, as well as renovation and construction management services. Founded in 2007 and headquartered in Minnetonka, Minnesota, Appreciate, through its operating subsidiary Renters Warehouse, supports investors in over 40 markets with proprietary online marketplaces and full-service brokerage teams. In November 2022, Appreciate Holdings completed a reverse merger with PropTech Investment Corporation II, a special purpose acquisition company, resulting in its public listing on Nasdaq under the tickers SFR and SFRWW; the transaction provided approximately $159 million in net cash proceeds, including $230 million from the SPAC trust and a $100 million committed equity facility from an affiliate of Cantor Fitzgerald & Co., to fuel geographic expansion and marketing growth. The company anticipated generating $113 million in revenue and $23 million in EBITDA for the following year post-merger, leveraging macroeconomic tailwinds in the fragmented SFR sector. Appreciate continues to prioritize scaling its technology solutions and market penetration amid ongoing demand for residential rental real estate.