Single-Family Rental

RMK Begins Leasing Efforts for Townhome, Single-Family Rental Community in Gilberts, Illinois

by Kristin Harlow April 11, 2023

GILBERTS, ILL. — RMK Management Corp. has begun leasing efforts for Conservancy at Gilberts, a new community that will offer 94 rental townhomes and 90 single-family rental homes in the Northwest Chicago suburb of Gilberts. Construction is complete for the community’s first phase, which comprises 54 townhomes. Many of the townhomes have been leased and nine are occupied. Construction is underway on the remaining 40 townhomes. RMK has begun pre-leasing efforts for the first phase of 46 single-family rental homes, which are slated for occupancy in June. Two-and three-bedroom townhomes measure from 1,469 to 1,724 square feet with monthly rents ranging from $2,530 to $2,925. Four-bedroom townhomes measure from 2,114 to 2,423 square feet. Conservancy at Gilberts is a pet-friendly community and offers ample green space and outdoor areas.

April 11, 2023

Build-to-Rent Development Florida Multifamily Single-Family Rental Southeast

JLL Brokers Sale of 48.1-Acre Build-to-Rent Development Site in Metro Tampa

by John Nelson April 7, 2023

WESLEY CHAPEL, FLA. — JLL Capital Markets has brokered the sale of a 48.1-acre build-to-rent development site located in Wesley Chapel. The site is approved for the construction of a 190-unit townhome community called GroveParc Townhomes. Max La Cava, Zach Nolan and Manny de Zarraga of JLL represented the seller, Blue Pointe Investors, in the transaction. Resibuilt acquired the property for an undisclosed price. Upon completion, which is scheduled for January 2025, GroveParc Townhomes will feature three- and four-bedroom townhomes with garages. Amenities will include a clubhouse, swimming pool, fitness center, playground, dog park, pickleball courts, lakeside trail and pedestrian access to the adjacent Krate & The Grove at Wesley Chapel, an open-air shopping center.

April 7, 2023

Arizona Build-to-Rent Development Multifamily Western

UrbanStreet Group Buys 17-Acre Parcel in Goodyear, Arizona for Build-to-Rent Development

by Jeff Shaw March 31, 2023

GOODYEAR, ARIZ. — UrbanStreet Group has purchased a nearly 17-acre land parcel at the Douglas at Goodyear Airport Commons in Goodyear for $14.5 million. The parcel comes with fully approved plans for a 307-unit build-to-rent (BTR) townhome community. ABI Multifamily’s Patrick Burch and John Klocek represented the seller, Blueprint Capital, in this transaction.

March 31, 2023

Build-to-Rent Development Midwest Single-Family Rental Wisconsin

Heyday Begins Pre-Leasing for 170-Unit Build-to-Rent Community in Sun Prairie, Wisconsin

by Kristin Harlow March 31, 2023

SUN PRAIRIE, WIS. — Heyday has launched pre-leasing efforts for Heyday Sun Prairie, a 170-unit build-to-rent community in the Madison suburb of Sun Prairie. Completion is slated for later this spring or early summer. The 41-acre, pet-friendly community features activated open spaces and walking paths. Each of the single-family attached rental homes features ample storage, private patios, high-speed electric vehicle charging outlets in garages, multipurpose rooms and built-in desks. Daniel Management Group will serve as the property manager. Heyday has additional projects planned in Wisconsin, such as a 130-unit built-to-rent community in Oak Creek that is slated to open in late 2024.

March 31, 2023

Build-to-Rent Development Single-Family Rental Texas

TerraLane Communities to Develop 94-Unit BTR Residential Complex in El Paso

by Taylor Williams March 20, 2023

EL PASO, TEXAS — TerraLane Communities, the build-to-rent (BTR) development arm of California-based investment firm IHP Capital Partners, will develop a 94-unit residential complex in El Paso. Campo del Sol will offer 19 single-story, three-bedroom homes with an average size of 1,445 square feet. The remaining 75 homes will be two stories and feature either three- or four-bedroom floor plans that range in size from 1,674 to 2,076 square feet. Campo del Sol will also have a central amenity center with a pool, playground and outdoor grilling areas, as well as a network of trails connecting pocket parks and other green spaces. Preliminary sitework has been completed, and the development team will soon begin vertical construction. Completion is slated for the second quarter of 2024.

March 20, 2023

Build-to-Rent Development Florida Loans Multifamily Single-Family Rental Southeast

EDEN Living Receives $22M Construction Loan for Build-to-Rent Multifamily Project in Wildwood, Florida

by John Nelson March 20, 2023

WILDWOOD, FLA. — EDEN Living has received $22 million in construction financing for a build-to-rent residential development in Wildwood. Max La Cava and Kenny Cutler of JLL secured the non-recourse loan through City National Bank. Located at 2072 County Road 501, the project is near the master-planned community The Villages. EDEN Living began construction in June of last year, with delivery expected in the first quarter of 2024. Upon completion, the community will feature 130 units in a mix of 799-square-foot, one-bedroom and 1,268-square-foot, two-bedroom layouts. Amenities will include a clubhouse, fitness center, barbecue area, pickleball courts and a park with walkways and seating areas.

March 20, 2023

Build-to-Rent Development Single-Family Rental Texas

TruLife, Advenir Oakley Break Ground on 200-Unit Build-to-Rent Project in Metro Fort Worth

by Taylor Williams March 16, 2023

WEATHERFORD, TEXAS — A joint venture between TruLife Communities and build-to-rent owner-operator Advenir Oakley has broken ground on LEO at Bethel Place, a 200-unit project in the southern Fort Worth suburb of Weatherford. Designed by Gaylen Howard Laing Architects, the property will offer a mix of one-, two- and three-bedroom homes that will average 781, 1,130 and 1,500 square feet, respectively. The amenity package will comprise courtyards with pavilions and grill stations, a central clubhouse with a pool and fitness center, dog park, pickleball court, putting green, walking trail system and a community garden. Full completion is slated for December 2024.

March 16, 2023

Arizona Build-to-Rent Development Single-Family Rental Western

Trilogy Investment Co., Pinnacle Plan $45M Build-to-Rent Community in Avondale, Arizona

by Jeff Shaw March 16, 2023

AVONDALE, ARIZ. — Trilogy Investment Co. and Pinnacle Partners have announced a new $250 million national joint venture. The new JV’s first initiative is to bring more than 105 build-to-rent homes to a Qualified Opportunity Zone in the Phoenix suburb of Avondale. The new development will be situated on a 15-acre site. The propject represents the first combined effort between Trilogy and Pinnacle. Development costs are estimated at $45 million. Construction is scheduled to begin in late third-quarter 2023. Trilogy and Pinnacle have also secured at least six additional development projects and acquisitions, each located in growing and attractive established Qualified Opportunity Zones. A few of the sites will be in metro Denver and Colorado Springs.

March 16, 2023

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

Private Portfolio Group Purchases Havenly Fountain Hills Build-to-Rent Community in Arizona for $68.3M

by Jeff Shaw March 13, 2023

FOUNTAIN HILLS, ARIZ. — Private Portfolio Group has acquired the 147-unit Havenly Fountain Hills for $68.3 million. The build-to-rent community is located at 16550 East Avenue of the Fountains in Fountain Hills, a suburb of north Scottsdale. Each rental home features 10-foot ceilings, fully fenced private backyards, front porches, high-end interior finishes, quartz countertops, stainless steel appliances and full-size washers and dryers. Mark Forrester of Berkadia represented the sellers, Arizona-based Keystone Homes and Lexin Capital, while Scott Holland of Berkadia Scottsdale secured life company acquisition financing on behalf of the buyer.

March 13, 2023

Acquisitions Build-to-Rent Multifamily North Carolina Single-Family Rental Southeast

Capital Square Acquires 74-Unit Townhome Community in Suburban Raleigh

by John Nelson March 10, 2023

FUQUAY-VARINA, N.C. — Capital Square has acquired Ashford Townes, a 74-unit townhome community located in Fuquay-Varina, a southwest suburb of Raleigh. Located at 604 Oakbrook Pass Way, the build-for-rent development was completed in February of last year and features three-bedroom floorplans averaging 1,693 square feet. D.R. Horton was the developer. Capital Square acquired the property on behalf of CS1031 Ashford Townes BFR Housing DST, a private equity investment vehicle internally managed by Dave Platter and Jon Trott.

March 10, 2023

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