After a turbulent few years for proptech, Divvy Homes announced Wednesday that it is selling to a division of Brookfield Properties for about $1 billion.

Rent-to-own startup Divvy Homes is being sold for $1 billion, but that doesn’t mean shareholders are walking away with a windfall. Some may be walking away with nothing at all.

Following multiple rounds of layoffs and other turmoil, Divvy Homes is reportedly being acquired by a division of Brookfield Properties.

The $1 billion acquisition of rent-to-own startup Divvy Homes, which was announced Wednesday, is expected to leave some shareholders without a payout, according to sources familiar with the deal.

Once valued around $2 billion, the rent-to-own startup is being scooped up by Maymont Homes, a competitor in the field.

Once valued at almost $2B, the company is being “sold for parts” in what was characterized as a fire sale by FastCompany, which first reported the news. A sales price was not available, and Brookfield and Divvy did not immediately respond to Bisnow ’s requests for comment.

San Francisco-based proptech Divvy Homes said Wednesday that it reached a definitive agreement to sell its rental portfolio and rent-to-own platform to Brookfield’s single-family home rental business Maymont Homes for about $1 billion.