Tricon Residential Breaks Ground on Bacara Single-Family Rental Property in Wildomar, California

WILDOMAR, CALIF. — Tricon Residential, Foremost Pacific Group and Woodbridge Pacific Group Cos. has broken ground on Bacara, a townhome single-family rental community in Wildomar.Located at 24808 Preilipp Road, Bacara will feature 170 rental townhomes with one-, two- and three-bedroom options with solar power, attached one- or two-car garages, keyless front-door entry and forecourt patios. Community amenities will include a dog park, lap pool and spa, gym and community …

Northmarq Provides $12.2M Freddie Mac Loan for Build-to-Rent Community in Oak Creek, Wisconsin

OAK CREEK, WIS. — Northmarq has provided $12.2 million in construction takeout financing for the recently completed first phase of Residences at Oak View in Oak Creek, just south of Milwaukee. The build-for-rent community, located at 10730 S. Howell Ave., includes 42 rental homes. Residents have access to a clubhouse with a fitness center, game room, community room and outdoor pool. The property was fully pre-leased within two months of the first home delivery and achieved occupancy …

Demographic, Economic Trends Likely to Sustain Build-For-Rent Sector’s Growth

Institutional investors have been increasingly interested in the build-for-rent (BFR) space over the last five years. But the pandemic poured gasoline on an asset class that offers tenants space, privacy and the flexibility of renting. Now that COVID appears to be receding in some areas, can the BFR sector maintain its growth? Paul Garner, director at Walker & Dunlop, believes that demographic and economic trends will maintain the demand for BFR, especially in the Sun Belt states, for the …

Walker & Dunlop Arranges $30.4M Construction Loan for Build-for-Rent Community in Antioch, Illinois

ANTIOCH, ILL. — Walker & Dunlop Inc. has arranged a $30.4 million loan for the construction of The Clublands of Antioch by Moda Homes, a 110-unit, single-family build-for-rent community in the northern Illinois town of Antioch. Moda Homes is the developer and Ryan Homes is the builder. The project will sit within The Clublands of Antioch, a 1,000-unit master-planned community with roughly 450 existing homes. The one- and two-story homes will average 1,719 square feet and will include …

Tower Capital Arranges $19.1M in Financing for SFR Community in Metro Charlotte

CHARLOTTE, N.C. — Tower Capital has arranged $19.1 million in acquisition financing for 99 build-for-rent townhomes in Indian Trail, a suburb of Charlotte. The property includes two-story, three-bedroom townhomes with attached garages.An undisclosed investor based in Phoenix received the two-year financing that features a floating interest rate 400 basis points above LIBOR and a six-month extension option.Including the property in Indian Trail, Tower Capital has arranged nearly $108 …

No Place Like Home: SFR Market Grows in Southeast as In-Migration Soars

By Sudha Reddy, Haven Realty CapitalSingle-family rentals have taken off in various areas across the country. But they’re boiling in the Southeast.The strength in the Southeast shouldn’t be a surprise as the region has enjoyed substantial employment and population growth over the past decade — well before COVID-19 hit last year. In 2018, the Southeast led other regions in net inflow, gaining around 959,000 new residents from different areas of the United States and around the …

Investors are ‘Swarming’ Atlanta’s Multifamily Market, Driving Pricing Up

Atlanta is a hot spot for investing in multifamily assets as the market emerges from the COVID-19 pandemic. The apartment market’s fundamentals, including occupancy and rent growth, have held up considerably well, making the market extremely attractive to buyers.Because the Atlanta market has an abundance of capital looking to be deployed, prices are being driven up significantly and cap rates driven down. Multifamily has outperformed many other commercial real estate sectors during the …

Parkland Residential Breaks Ground on Build-for-Rent Townhome Property in Lawrenceville, Georgia

LAWRENCEVILLE, GA. — Atlanta-based Parkland Residential has broken ground on Sweetwater Springs, the company’s first build-for-rent (BFR) community. The property is located at 1510 Duluth Highway in Lawrenceville, about 28 miles northeast of downtown Atlanta. The development will be completed by December 2021.Managed by Lincoln Property Group, Sweetwater Springs will be one of the first BFR communities in Gwinnett County and the first stacked townhome property within the county. …

Walker & Dunlop Arranges $37.6M Financing for Build-to-Rent Acquisition in Flagstaff

FLAGSTAFF, ARIZ. — Walker & Dunlop has arranged debt and equity financing for the purchase of The Bungalows on Pine Cliff, a build-for-rent housing developing in Flagstaff. The structured transaction includes $37.6 million in bridge financing as part of a joint venture partnership.St. Clair Holdings is the borrower. Heather McClure of Walker & Dunlop’s Build-for-Rent (BFR) team advised the borrower and identified New York City-based Dome Equities as a capital partner for the …

‘Astronomical’ Multifamily Investment Demand Drives Up Pricing, Says Marcus & Millichap’s IPA Panel

The U.S. multifamily sector remains an attractive option for real estate investors looking for a safe haven. Beyond the pool of traditional buyers who are actively acquiring apartment properties, the sector has become a landing spot for companies that aren’t legacy multifamily owners.Steven DeFrancis, CEO of Cortland, cited REITs like Blackstone Real Estate Investment Trust as newly establishing a presence in the multifamily sector. BREIT recently made a $240 million preferred equity …

Content Partners
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‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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