Tempo Capital Arranges $42M Construction Loan for Metro Houston Residential Project

CONROE, TEXAS — Chicago-based financial advisory firm Tempo Capital Group has arranged a $42 million nonrecourse construction loan for a 287-unit single-family rental project in Conroe, about 35 miles north of Houston. The project will be situated on a 45-acre site and will feature cottages, duplexes and two-story homes. Amenities will include a pool, fitness center and clubhouse. The direct lender and borrower were not disclosed. A construction timeline was also not released. Michael Berke …

Speed to Market is ‘Almost the Only Priority’ for Multifamily Developers Looking to Avoid Cost Risks, Say InterFace Panelists

CHARLOTTE, N.C. — Multifamily developers are pushing their chips in and aggressively looking for new development deals, especially for sites in and around high-growth markets in the Southeast. Michael Tubridy, senior managing director of Crescent Communities, said his firm isn’t leaving anything to chance and is looking to move quickly on development opportunities.“We’re trying to get as many units on the ground today as possible, because tomorrow will be more expensive,” said …

Student Housing Players Make Big Push into Build-to-Rent Market

If there were any doubt that student housing stakeholders were quickly moving into the single-family build-to-rent market, the question was just settled for good.  Chicago-based Harrison Street, one of the industry’s biggest players, recently announced a blockbuster deal to form a joint-venture with Core Spaces, one of student housing’s biggest developers. But this venture isn’t about student housing; it will invest up to $1.5 billion in subdivisions with hundreds of rental homes in …

Mill Creek Residential Underway on 271-Unit Build-to-Rent Community in Celina, Texas

CELINA, TEXAS — Mill Creek Residential is underway on construction of Amavi Celina, a 271-unit build-to-rent residential community that will be located about 35 miles north of Dallas. The unit mix will consist of 155 cottages, 94 townhomes and 22 single-family detached homes. Amavi Celina will span 45 acres and will feature a trail system, dog park, fitness center and resort-style pool. Keaton Merrell and Shannon Hersker of Walker & Dunlop originated a four-year, interest-only …

Hunt Midwest, Park Place Partners Sell Build-to-Rent Community in Kansas for $45.2M

LENEXA, KAN. — Hunt Midwest and Park Place Partners have sold The Fairways Villas at City Center in Lenexa, a southern suburb of Kansas City, for $42.5 million. Colorado-based Griffis/Blessing Inc. purchased the build-to-rent community, which features 80 homes and is situated next to Canyon Farms Golf Course. Hunt Midwest and Park Place Partners completed development of the property in early 2020. The homes average 2,289 square feet across two levels and include a two-car garage. Monthly …

Tower Capital Arranges $27.8M Construction Loan for Metro Dallas Build-to-Rent Community

MCKINNEY, TEXAS — Tower Capital, a Phoenix-based finance and advisory firm, has arranged a $27.8 million construction loan for a 128-unit build-to-rent community in the northern Dallas suburb of McKinney. The development will span 13.2 acres and offer one-, two- and three-bedroom residences. The amenity package will consist of a pool, spa, fitness center, dog park and outdoor grilling and dining stations. The borrower and direct lender were not

Single-Family/Build-to-Rent: Changing Renter Demographics Fuel Growth

Demand for all forms of housing has been on the rise in recent years, a trend that is expected to continue in 2022. One segment of the market that is attracting significant attention is single-family/build-to-rent (SFR/BTR), as a series of economic and demographic shifts increase the attractiveness of an alternative to traditional apartments.Developers are ramping up activity on thousands of new units, particularly in the high-growth southern U.S. markets. Dozens of projects totaling more …

NorthMarq Arranges $22.4M Construction Financing for Build-to-Rent Community in Chandler, Arizona

CHANDLER, ARIZ. — NorthMarq has arranged $22.4 million in non-recourse construction financing for Arizona-based TruVista Development for the development of The Villages at Chandler, a build-to-rent residential community in Chandler.Spanning 8.9 acres, the property will feature 109 units, averaging 886 square feet, in a mix of one- and two-bedroom craftsman, cottage and bungalow style units with private backyards. The gated community will also feature a central greenbelt, dog park, pool …

Onyx+East, Pretium Form Joint Venture to Invest $600M for Development of Single-Family Rental Homes

INDIANAPOLIS — Indianapolis-based homebuilder Onyx+East has formed a joint venture with investment management firm Pretium to invest approximately $600 million to develop, build and operate new single-family build-to-rent communities. The joint venture plans to build over 2,000 homes across the Midwest and Florida’s West Coast. In 2022, the partnership intends to develop six communities totaling more than 700 homes in Indiana, Ohio and Florida. Progress Residential, Pretium’s …

Taylor Morrison to Develop 240-Unit Single-Family Rental Community in Metro Houston

CYPRESS, TEXAS — Arizona-based homebuilder Taylor Morrison (NYSE: TMHC) will develop a 240-unit single-family rental (SFR) community in the northwestern Houston suburb of Cypress. Homes will come in one-, two- and three-bedroom formats and will range in size from approximately 750 to 1,250 square feet. Communal amenities will include a pool, fitness center, event lawn and a dog park. Christopher Todd Communities will operate and manage the property. Initial occupancy is slated for late

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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