Single-Family Rental

Advenir Oakley Breaks Ground on $78M Build-to-Rent Residential Project in Greer, South Carolina

by John Nelson March 1, 2023

GREER, S.C. — Advenir Oakley Capital LLC has begun site work for LEO Jamestown, a $78 million build-to-rent (BTR) residential community in Greer, part of the Greenville-Spartanburg metropolitan area in Upstate South Carolina. The 296-unit project will span nearly 35 acres at the corner of South Main and Roscoe Drive, about one mile outside of downtown Greer. LEO Jamestown will feature a mix of one-, two- and three-bedroom cottages with nine-to-15-foot ceilings, wood-grain flooring, in-unit washers and dryers, a smart-home technology package, private backyards, on-call maintenance and optional enclosed garage parking. Neighborhood amenities will include courtyards with pavilions and grill stations, a central clubhouse with a resort-style pool, fitness center, dog park and valet trash. One-bedroom homes will average 882 square feet and rent for approximately $1,800 per month; two-bedroom units will average 912 square feet and rent for $2,100; and three-bedrooms will come in 1,510-square-foot floor plans and rent for $2,600. Advenir Oakley expects to fully deliver the property by December 2024, with first deliveries currently scheduled for this October. The design-build team includes Birmingham-based Nequette Architecture & Design and general contractor Capstone Building Corp. Advenir Living will be the property manager.

March 1, 2023

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

Advenir Oakley Breaks Ground on $78M Build-to-Rent Residential Project in Greer, South Carolina

by John Nelson February 28, 2023

February 28, 2023

Arkansas Build-to-Rent Development Multifamily Retail Single-Family Rental Southeast

ITEX, Time Warp to Develop Cinema-Themed BTR Project in Fayetteville, Arkansas

by John Nelson February 27, 2023

FAYETTEVILLE, ARK. — The ITEX Group and Time Warp Enterprises have released plans for The Aronson, a build-to-rent (BTR) project in Fayetteville that will be anchored by a new moviegoing concept from Austin, Texas-based theater chain Alamo Drafthouse Cinema. The Aronson’s 214 units will be available as single-family, duplex or triplex configurations. Amenities will include a clubhouse, fitness center, pool, playgrounds, dog parks and bike parking. The project is anticipated to deliver by 2024. The Aronson will be home to Alamo Drafthouse Cinema + Drive-In, developed via a partnership among Catchlight Entertainment, ITEX and Time Warp. In addition to eight indoor movie screens, with a total of 798 reclining theater seats, the concept also includes a permanent outdoor drive-in theater with a beer garden and parking for cars and bikes. The Aronson is named for cinema pioneer and Arkansas native Max Aronson, whose screen name was Gilbert “Bronco Billy” Anderson. Aronson starred in several silent films in the early part of the 20th century as Bronco Billy. He also was a producer on “The Tramp,” a film released in 1915 and recognized as one of Charlie Chaplin’s first well-known performances.

February 27, 2023

Build-to-Rent Development Single-Family Rental Texas

Stillwater Capital Breaks Ground on 215-Unit Build-to-Rent Residential Project in Frisco

by Taylor Williams February 24, 2023

FRISCO, TEXAS — Locally based developer Stillwater Capital has broken ground on a 215-unit build-to-rent residential project in Frisco. The site is located within The Link, a 240-acre mixed-use development that is adjacent to the PGA of America’s headquarters campus. Information on floor plans was not disclosed. Amenities will include a pool, fitness center, resident lounge and a neighborhood park and walking trails. Stillwater Capital has partnered with Robert Elliott Custom Homes on the project, which is slated for full completion in late 2024.

February 24, 2023

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

ACRE, ARK Underway on 150-Unit Single-Family Rental Community in Myrtle Beach

by John Nelson February 24, 2023

MYRTLE BEACH, S.C. — ACRE and partner ARK Residential have announced plans for The Springs at Arcadia, a 150-unit single-family-rental (SFR) community in Myrtle Beach. Located within the master-planned Arcadia community, the development will offer three- and four-bedroom detached homes ranging in size from 1,500 to 2,300 square feet. Residents will have access to Arcadia’s amenities, which include a clubhouse, pickleball courts and a pool. Construction, which is currently underway, is scheduled for completion in the first quarter of 2024. Preleasing began in January of this year, and Elmington Property Management will manage the community. John Alascio, Chuck Kohaut, T.J. Sullivan and John Spreitzer of Cushman & Wakefield arranged $37 million in financing through Arbor Realty Trust Inc. for the project.

February 24, 2023

Build-to-Rent Development Oklahoma Single-Family Rental Texas

MMCC Arranges $14.7M in Equity for Build-to-Rent Community Near Tulsa

by Taylor Williams February 22, 2023

BIXBY, OKLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $14.7 million in joint venture equity for a 161-unit, build-to-rent residential community in Bixby, a southern suburb of Tulsa. The development will offer one-bed duplexes and two-, three- and four-bedroom farmhouse-style homes. Residences will feature private garages and backyards, and communal amenities will include a pool, fitness center and a clubhouse. Justin Shuart and Travis Headapohl of MMCC structured the equity on behalf of the developer, a partnership led by ACRE Development Partners.

February 22, 2023

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

JLL Arranges $33.8M Construction Loan for Villas Goodyear Build-to-Rent Community in Arizona

by Amy Works February 22, 2023

GOODYEAR, ARIZ. — JLL Capital Markets has arranged a $33.8 million construction loan for Villas Goodyear, a build-to-rent residential development at 816 S. Sarival Ave. in Goodyear. The borrower is a joint venture between Blue Vista Capital Management and Family Development. Upon completion, Villas Goodyear will feature 151 one- and two-bedroom, freestanding, single-story units with spacious floor plans, simulated wood flooring, quartz countertops, stainless steel appliances and private backyards. Community amenities will include a resort-style pool, fitness center, open turf spaces, outdoor lounge area and grill area. Brian Walsh, Brad Miner and Dave Hunter of JLL Capital Markets secured the three-year, fixed-rate loan through a regional bank for the borrower.

February 22, 2023

Share of Markets with Rising Apartment Cap Rates_460

Arbor Realty Trust Build-to-Rent Content Partner Development Features Leasing Activity Midwest Multifamily Northeast Single-Family Rental Southeast Texas Western

Arbor Report Finds Rental Housing Insulated from Economic Contraction, Risk Factors Endure

by Sarah Daniels February 14, 2023

— By Ivan Kaufman, founder, chairman and CEO of Arbor Realty Trust, Inc.; and Sam Chandan, a professor of finance and director of the Chen Institute for Global Real Estate Finance at the NYU Stern School of Business Rental housing is uniquely positioned to withstand tremendous economic headwinds. Although some observers point to the slowdown in apartment rent growth as a sign of growing weakness, this trend is a cyclical feature that is not reflective of any structural change in the profile of demand or supply. It is normal to expect a period of slowing rent growth while there is uncertainty in the economic outlook. In-depth findings on these trends, plus a thorough economic outlook for 2023 and a complete breakdown of risk factors, are detailed in Arbor Realty Trust Special Report Spring 2023: Navigating a Corrective Environment, from which this article is excerpted. While no asset class is immune from the challenges of higher interest rates, the presence of amortization, which spreads out a loan into a series of fixed payments over time, makes the multifamily sector less likely to see mounting distress. All Department of Housing and Urban Development (HUD)-conforming multifamily loans are fully amortizing. Moreover, Fannie …

February 14, 2023

Build-to-Rent Development Single-Family Rental Texas

AHV Communities Completes 142-Unit Single-Family Rental Project in Northwest San Antonio

by Taylor Williams February 13, 2023

SAN ANTONIO — Locally based developer AHV Communities has completed Farm Haus, a 142-unit single-family rental project in northwest San Antonio. The development’s two-story duplexes are available in two-, three- and four-bedroom homes that range in size from 1,134 to 1,645 square feet. Homes also include private garages and fenced yards. Amenities include a pool, fitness center, community kitchen, bocce courts, dog park and walking trails. Rents start at $2,070 per month.

February 13, 2023

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

JLL Arranges $48M in Construction Financing for Build-to-Rent Development in Central Florida

by John Nelson January 24, 2023

WILDWOOD, FLA. — JLL has arranged $48 million in construction financing for the development of Solamar Wildwood, a 243-unit build-to-rent development in Wildwood. Churchill Real Estate provided the two-year, non-recourse loan to the borrower, a partnership between TRUSOT Developments and Agador Spartacus Development (AS). Max La Cava, Kenny Cutler and Karim Khaiboullin of JLL arranged the financing on behalf of TRUSOT and AS, which are co-developing several residential projects across Florida. Situated adjacent to The Villages, a master-planned community in Central Florida for active adults, Solamar Wildwood will comprise townhomes and villas with one-, two- and three-bedroom layouts. Homes will feature semi-private backyards, surface parking and private garages. Community amenities will include a resort-style swimming pool, sun deck with cabanas, fitness studio with a yoga room, summer kitchen and a tropical clubhouse.

January 24, 2023

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