A major real estate transaction is in the works, according to Bloomberg, with Partners Group Holding on pace to acquire some 2,000 home rentals, mostly in the U.S. sunbelt, from Fortress Investment Group in a deal valued at more than $1 billion.

The acquisition would also include some 1,000 properties under contract.

“Single-family rentals became a favored property type during the pandemic, as families sought bigger living spaces to ride out the work-from-home era,” the Bloomberg story said. “Firms such as KKR & Co. and Brookfield Asset Management Inc. made new investments, while others, including Man Group Plc, added to existing bets.

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