Friday, July 11, 2025
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Build-to-Rent

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AcquisitionsArizonaBuild-to-RentSingle-Family RentalWestern

Cavan Cos. Sells Build-to-Rent Project in Gilbert, Arizona for $66M

by Amy Works

GILBERT, ARIZ. — Cavan Cos. has sold The Bungalows at San Tan Village, a 159-unit build-to-rent (BTR) community in Gilbert to AEW Capital Management. The sales price was $66 million. Cavan Cos. began construction of the property in 2021 and completed it in 2024. The Bungalows at San Tan Village was 97 percent occupied at the time of closing. The community offers a mix of one-, two- and three-bedroom single-story homes, each featuring private backyards and smart home systems. Amenities include a resort-style lap pool and a hot tub, a fitness studio, dog park, walking trail, playground and a resident clubhouse. The Bungalows is Cavan’s branded BTR product. The company has developed communities in Arizona and Nebraska under this name.

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Build-to-RentDevelopmentSingle-Family RentalTexas

HSF Provides $36.2M Construction Loan for Build-to-Rent Project in Atascocita, Texas

by Taylor Williams

ATASCOCITA, TEXAS — HALL Structured Finance (HSF) has provided a $36.2 million construction loan for Humble Ranch, a 160-unit build-to-rent residential project that will be located about 25 miles north of Houston in Atascocita. Humble Ranch will offer a mix of one-bedroom duplexes and two- and three-bedroom detached homes, all of which will feature quartz countertops, stainless steel appliances and private fenced yards with patios. Communal amenities will include a clubhouse, business center, pool and a fitness center, as well as access to the 21-acre Atascocita Park. Paul Smyth of Broadsword Investors arranged the loan on behalf of the borrower, Houston-based Lēva Living. Construction is underway and expected to be complete in the third quarter of 2026.

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Build-to-RentDevelopmentSingle-Family RentalTexas

NexMetro Completes 211-Unit Build-to-Rent Project in Cleburne, Texas

by Taylor Williams

CLEBURNE, TEXAS — Phoenix-based developer NexMetro Communities has completed Avilla Railhead, a 211-unit build-to-rent residential project in Cleburne, a southern suburb of Fort Worth. Avilla Railhead offers one-, two- and three-bedroom homes with private front porches, gated backyards, smart-home technology and EV-friendly garages. Amenities include a pool with a lounge area, outdoor pavilion with grilling stations, dog park and gaming areas. Rents start at roughly $1,450 per month for a one-bedroom home.

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Build-to-RentDelawareDevelopmentNortheastSingle-Family Rental

JLAM Underway on 102-Unit Build-to-Rent Residential Project in Lewes, Delaware

by Taylor Williams

LEWES, DEL. — JLAM, an investment and development firm with offices in Delaware and Charlotte, is underway on construction of Lightkeeper’s Village, a 102-unit build-to-rent residential project in the coastal Delaware city of Lewes. The community will feature one-, two- and three-bedroom units and amenities such as a clubhouse, pool, fitness center and common green spaces. The design/build team includes Schell Brothers, regional architecture firm Union, Christiana Excavating and engineering firm Davis, Bowen & Friedel. Leasing is expected to begin before the end of the year.

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AcquisitionsBuild-to-RentMultifamilyNorth CarolinaSingle-Family RentalSoutheast

Berkadia Brokers $31M Sale of Build-to-Rent Community in Metro Charlotte

by John Nelson

INDIAN TRAIL, N.C. — Berkadia has brokered the sale of Poplin Trace, a 99-unit build-to-rent community in Indian Trail, a city about 15 miles southeast of Charlotte. The sales price was not disclosed, but the Charlotte Business Journal reported the asset traded for $31 million. The seller was Arizona-based Belleview. The buyer was not disclosed. Caleb Troop, Matt Robertson, Mark Forrester and Andrew Curtis of Berkadia led the transaction on behalf of Belleview. Built in 2021, Poplin Trace offers three-bedroom townhomes with attached two-car garages. The property was 93 percent occupied at the time of sale.

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Build-to-RentDevelopmentSingle-Family RentalTexas

Wan Bridge, Centurion to Develop 201-Unit Build-to-Rent Project in Lewisville, Texas

by Taylor Williams

LEWISVILLE, TEXAS — A partnership between Wan Bridge, a Texas-based developer of build-to-rent residential communities, and Centurion American Development Group will build Frontera Shores Townhomes, a 201-unit project that will be located in the northern Dallas suburb of Lewisville. The site spans 35.8 acres, and the community will offer two-, three- and four-bedroom townhomes. Amenities will include a pool, walking trails and a dog park. Vertical construction will begin over the summer, with the first homes expected to be available for occupancy before the end of the year. Full completion is slated for next December.

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ArizonaBuild-to-RentLoansSingle-Family RentalWestern

Tower Capital Arranges $79.5M Refinancing for Village at Bronco Trail Build-to-Rent Community in Phoenix

by Amy Works

PHOENIX — Tower Capital has arranged $79.5 million to refinance an existing loan for the Village at Bronco Trail, a 354-unit build-to-rent (BTR) community in Phoenix. The sponsor, Scottsdale, Ariz.-based Empire Group, started construction on the project in 2023. Kyle McDonough, George Maravilla, David Stull and Noah Schott of Tower Capital originated the nonrecourse construction financing via a debt fund. Situated on 30 acres at 28th Avenue and Sonoran Desert Drive, Village of Bronco Trail will offer one-, two- and three-bedroom units with floor plans averaging 923 square feet. Each home will offer a private yard, kitchen with quartz countertops, stainless steel appliances and backsplashes, full-size washers/dryers and upgraded smart-home features and technology. Community amenities will include detached garages, a fitness center, car wash station, playground, dog park, grilling area, resort-style pool, clubhouse and common area open spaces.

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ArizonaBuild-to-RentDevelopmentSingle-Family RentalWestern

Crescent Communities Breaks Ground on 125-Unit Build-to-Rent Community in Metro Phoenix

by Amy Works

AVONDALE, ARIZ. — Crescent Communities has broken ground on HARMON Ascend, a build-to-rent multifamily community in Avondale. Situated on West Indian School Road, HARMON Ascend will feature 125 three- and four-bedroom, two-story townhomes featuring individual two-car garages. The property is slated to welcome its first residents in spring 2026. HARMOND Ascend will offer charcoal grills, green spaces, lawn games and more to foster community engagement. The project team includes Heitman LLC as account manager, Atwell and Kimley-Horn as civil engineers, BSB Design as architects and Mosaic as general contractor.

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Build-to-RentDevelopmentSingle-Family RentalTexas

Urban Moment Completes 293-Unit Build-to-Rent Residential Project in Metro Austin

by Taylor Williams

HUTTO, TEXAS — Locally based firm Urban Moment Development has completed YardHomes Cottonwood Creek, a 293-unit build-to-rent residential project in the northern Austin suburb of Hutto. The development offers one-, two- and three-bedroom units that range in size from 635 to 1,391 square feet and have private fenced backyards. Units feature stainless steel appliances, quartz countertops, individual washers and dryers and smart technology. Amenities include an event lawn, pickleball court, fitness center and a dog park. Rents start at roughly $1,500 per month for a one-bedroom home.

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Build-to-RentDevelopmentSingle-Family RentalTexas

ONM Living to Develop 188-Unit Build-to-Rent Community in Providence Village, Texas

by Taylor Williams

PROVIDENCE VILLAGE, TEXAS — Locally based firm ONM Living will develop Cottages at Providence Village, a 188-unit build-to-rent community that will be located on a 14-acre site within a master-planned community of the same name in Denton County. The development will offer studio, one-, two- and three-bedroom homes that will range in size from approximately 350 to 1,400 square feet. Homes will feature fenced yards, covered front porches, granite countertops, stainless steel appliances, walk-in showers, full-size washers and dryers and smart technology. Amenities will include a fitness center, pool, pickleball and other sports courts, dog park and walking trails. Leasing is scheduled to begin late next year.

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