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Covey Homes by MORE has announced that it has acquired a new purpose-built single-family home rental community in Graniteville, SC, just northeast of Augusta, GA.

The community, Covey Homes Midsomer, was completed in late 2023 and has 75 one- and two-story detached homes. The three- to five-bedroom homes include fenced yards, two-car garages and private patios. Finishes include granite kitchen countertops, stainless-steel appliances, washers and dryers, smart entry locks and a variety of smart-home features. Covey Homes Midsomer is a pet-friendly community.

The community is just eight miles from Covey Homes Sweetwater in North Augusta, S.C., another Covey Homes by MORE community.

Covey Homes by MORE owns and operates more than 5,000 homes across 33 newly built rental communities, mostly in fast-growing Sun Belt states. The acquisition of Covey Homes Midsomer keeps with Covey Homes' focus on owning and operating newly built rental communities designed to provide a range of housing solutions to help ease the nation's housing shortage.

"Even in the face of some economic uncertainty, we continue to see strong demand for this increasingly desirable home-rental experience,'' said Mark Alfieri, CEO of MORE Residential, which owns and operates the Covey Homes by MORE brand. "As we have said since we launched Covey Homes in 2023, we will continue to provide a market for developers building new homes for rent.''

MORE Residential unveiled the Covey Homes brand as part of its joint venture with Stockbridge, the San Francisco-based investment firm. MORE Residential is led by the former management team behind Monogram Residential, a publicly traded REIT that was sold in 2017. Stockbridge MORE Communities, created in 2021, is focused on owning and operating newly built single-family rental communities in high-growth U.S. markets.

For more information, visit www.CoveyHomesbyMORE.com.