Divvy on Sale: Pandemic Star Sold for Parts
Deal News | Jan 20, 2025 | Aim Group
Divvy, a company once favored by investors during the height of the pandemic, is reportedly being sold piecemeal to Maymont Homes, a company based in Charleston, South Carolina. The sale reflects a declining fate for Divvy, which had soared during the property boom induced by the pandemic. The decision to sell comes as the company faces pressures in a post-pandemic real estate market, leading it to part out its business operations to Maymont, a known entity in the industry and subsidiary of Brookfield. The strategic acquisition by Maymont suggests a move to absorb and possibly diversify their holdings within the rent-to-own sector.
Sectors
- Real Estate
- Investment
Geography
- United States – The article involves companies primarily based in the United States, with Maymont Homes located in Charleston, South Carolina.
Industry
- Real Estate – The article is centered around a deal in the real estate sector, specifically involving rent-to-own properties.
- Investment – The transaction involves the acquisition by Maymont Homes, part of Brookfield, indicating significant investment activity.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Divvy | Target Company | Company | A rent-to-own company formerly popular with investors during the pandemic property market surge. |
| Maymont Homes | Bidding Company | Company | A Charleston, South Carolina-based company acquiring parts of Divvy, and a subsidiary of Brookfield. |
| Brookfield | Parent Company | Company | The parent company of Maymont Homes, involved in the acquisition transaction of Divvy. |