Divvy Homes, a rent-to-own startup, has been acquired by a Brookfield Properties division for approximately $1 billion. This acquisition comes after Divvy's valuation peaked at $2.3 billion in 2021. The deal is expected to finalize by mid-February. Divvy, founded in 2016, has faced difficulties in the real estate market, particularly due to rising mortgage interest rates, leading to multiple layoffs. The company has helped create around 2,000 homeowners through its innovative model. Notable investors include Tiger Global Management and Andreessen Horowitz.