<ul><li>Rent-to-own real estate platform Divvy Homes is being acquired by Maymont Homes for $1 billion, a fraction of its previous valuation of $2 billion.</li><li>The deal includes Divvy's property portfolio of 7,000 homes and the platform itself. Maymont Homes, a division of Brookfield Properties, will manage the portfolio.</li><li>Divvy Homes helps residents start their journey to homeownership through a flexible model where customers rent homes and build credit profiles to eventually purchase the property or vacate.</li><li>The sale concludes a journey that saw significant capital investment in Divvy, but shareholders are expected to receive nothing after debt and obligations are paid.</li></ul>

Divvy Homes’ $1 Billion Sale: A Cautionary Tale for PropTech Startups

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