OAK CREEK, WIS. — BWE has secured $33.6 million in permanent financing for Heyday Oak Creek, a 130-unit build-to-rent community in the Milwaukee suburb of Oak Creek. Dan Rosenberg, Tim Caffrey and Logan Petersmeyer of BWE arranged the Fannie Mae loan on behalf of Heyday, a Chicago-based developer specializing in build-to-rent communities. The financing paid off the construction loan and closed immediately upon the conclusion of the property’s initial lease-up. The recently built property includes 22 ranch-style buildings with a mix of one-, two- and three-bedroom homes.
GRAYSON, GA. — FrostPoint Capital, an investment firm based in West Palm Beach, Fla., has acquired Olde Towne Grayson, a 13,896-square-foot retail strip center in Grayson, a northeast suburb of Atlanta in Gwinnett County. The property, which FrostPoint is rebranding as Grayson Square, was fully leased at the time of sale to tenants including AutoZone, Lendmark Financial, Little Caesars Pizza, JB’s Barbershop and Katie’s Sports Bar & Grill. Marc Irvin and Matthew Welch of Marcus & Millichap brokered the transaction. The seller and sales price were not disclosed.
LAWRENCEVILLE, GA. — Charlotte-based Crescent Communities has welcomed the first residents at HARMON Cedar Run, a 151-unit build-to-rent (BTR) residential community in Lawrenceville. The property represents the first HARMON-branded BTR property in the metro Atlanta area and 13th multifamily project in the market overall for Crescent. HARMON Cedar Run is situated on 38 acres and features three- and four-bedroom townhomes and single-family homes, as well as amenities including a resort-style pool with shaded seating areas, pickleball and basketball courts and green spaces. Monthly rental rates range from $2,550 to $3,245, according to Apartments.com. DRB Group, a Sumitomo Forestry Co. Ltd affiliate company, was the homebuilder of HARMON Cedar Run. Crescent Communities is also an affiliate of Sumitomo Forestry.
SHAWNEE, KAN. — Material Capital Partners (MCP) has received $77.8 million in financing and broken ground on Harmony at Clear Creek, a 188-unit build-to-rent (BTR) community in Shawnee near Kansas City. The project marks the final investment within MCP’s BTR Development Fund I and its third collaboration with financial partner Bluerock. Bank OZK provided construction financing, and Winchester Commercial Group is leading the construction. Harmony at Clear Creek will span 40 acres with a mix of three- and four-bedroom floor plans ranging from 1,600 to 2,400 square feet. Each residence will include a two-car garage, private patio, fenced backyard and mudroom. Amenities will include a clubhouse with a fitness center and coworking spaces, a resort-style pool, dog park, pocket parks and walking trails. The first units are expected to be available for rent in October 2026, with the full project slated for completion in February 2028.
ATHENS, GA. — Atlanta-based Mallory & Evans has plans to develop The Shoals, a mixed-use development located near University of Georgia in Athens. The $95 million Phase I will feature 285 residences, 456 parking spaces (garage and street), green spaces and more than 20,000 square feet of retail and commercial space. Residences will come in studio to four-bedroom configurations in multiple formats — townhomes, duplexes, cottages, live/work units and single-family homes — and are expected to deliver in 2027. Phase I will span 22 acres of the 90-acre site, which will interface with the Athens Firefly & Greenway Trail system. Ultimately, The Shoals will feature more than 600 residences and commercial space across four connected pocket neighborhoods.
Parkland Residential Begins Leasing 140-Unit Build-to-Rent Townhome Community in Sugar Hill, Georgia
SUGAR HILL, GA. — Parkland Residential, the build-to-rent (BTR) division of Parkland Communities, has begun leasing Park Ridge, a 140-unit BTR community located at 100 Park Summit Blvd. in Sugar Hill, a northeast suburb of Atlanta in Gwinnett County. Phase I of the development, which comprises 72 rear-entry, stacked townhomes, is underway. Parkland Residential has delivered a model home at Park Ridge that prospective renters can now tour. Each unit will be configured in one of two floorplans: a three-bedroom, 1,950-square-foot townhome branded The Dogwood and a two-bedroom, 1,600-square-foot townhome branded The Laurel. All units will feature a one-car garage, separate tub and showers in the master bathroom and a master bedroom with a walk-in closet.
MCKINNEY, TEXAS — Greystone has provided a $19.8 million Fannie Mae loan for the refinancing of Legacy on Rockhill, a 128-unit build-to-rent property in McKinney, located north of Dallas. Built on 13.2 acres in 2023, Legacy on Rockhill offers one-, two- and three-bedroom single-family and duplex-style homes with private backyards. Amenities include a pool, fitness center, dog park and a bocce ball court. John Sloot of Greystone originated the debt. The borrower was not disclosed. The property was 94 percent occupied at closing.
OSWEGO, ILL. — Lynd Development Group, a division of The Lynd Group, has received a $64 million loan from Starwood Capital to refinance Home at Ashcroft, a 178-unit, luxury build-to-rent community in the western Chicago suburb of Oswego. The new financing replaces a $66 million construction loan provided by Delaware Life and Steeprock Capital. Construction began in 2022 and is now complete. The property is more than 82 percent occupied. Home at Ashcroft features three-bedroom, single-story homes averaging 1,775 square feet. Each residence includes a two-car garage and covered patio. Monthly rents range from $2,800 to $4,000. Amenities include a clubhouse, pool, fitness center, game room, private library, grilling stations, dog park and landscaped walking trail.
HUNTSVILLE, ALA. — Trilogy Investment Co. and Pinnacle Partners have completed lot delivery and horizontal construction for Phase I of REV3 at The Celeste, a 172-unit build-to-rent (BTR) townhome community on Plummer Road in Huntsville. The development partnership plans to begin vertical construction in the fourth quarter. Trilogy is funding the project in part with its BTR Opportunity Zone fund, which is focused on developments in the Sun Belt region. REV3 at The Celeste will feature three-bedroom townhomes with 2.5 bathrooms, open-concept layouts, stainless steel appliances, LVP flooring, smart home technology and attached garages. Amenities will include a resort-style pool with a shaded cabana, clubhouse with gathering spaces, fitness center and outdoor grilling areas. Trilogy and Pinnacle plan to begin leasing in the second quarter of 2026 and deliver REV3 at The Celeste in third-quarter 2026.
OPELIKA, ALA. — Jim Chapman Construction Group has broken ground on Creekside Cottages, a 304-unit build-to-rent (BTR) project at the intersection of Society Hill Road and Gateway Drive in Opelika, about eight miles east of Auburn. The developer is an undisclosed, publicly traded REIT. The general contractor recently finished clearing and grading on the 67.6-acre site and will begin vertical construction in late December. Phase I of Creekside Cottages will comprise 225 attached townhomes, with leasing set to begin in spring or summer 2026. Units will range in size from 1,000 to 1,439 square feet and feature two- and three-bedroom configurations. Each home will include attached garages, vinyl plank flooring, granite countertops, stainless steel appliances and in-unit washers and dryers. Amenities will include gated access, a clubhouse, swimming pool, dog park, sidewalks, streetlights and onsite property management and maintenance teams.
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