Thursday, November 21, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Single-Family Rental

Tricon-Willow-Creek-Tomball
Build-to-RentDevelopmentSingle-Family RentalTexas

Tricon Residential Completes 148-Unit Build-to-Rent Project in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Tricon Residential, a subsidiary of Blackstone, has completed a 148-unit build-to-rent-residential project in the northeastern Houston suburb of Tomball. Tricon Willow Creek features three- to four-bedroom homes with four different configurations that are furnished with stainless steel appliances, granite countertops, two-car garages and fully fenced backyards. Amenities include a pool, playground, dog park and sports park. Tricon developed the property in partnership with HHS Residential, a division of Plano-based Highland Homes. Rents start at $2,289 per month for a three-bedroom home.

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentSingle-Family RentalTexas

Tricon Residential Completes 155-Unit Build-to-Rent Project in Leander, Texas

by Taylor Williams

LEANDER, TEXAS — Tricon Residential, a subsidiary of Blackstone, has completed a 155-unit build-to-rent-residential project in the northern Austin suburb of Leander. Tricon Bryson features three- to four-bedroom homes with six different configurations that are furnished with stainless steel appliances, granite countertops, two-car garages and fully fenced backyards. Amenities include a pool, playground, dog park and a fishing pond. Tricon developed the property in partnership with HHS Residential, a division of Plano-based Highland Homes. Rents start at $2,169 per month for a three-bedroom home.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingBuild-to-RentDevelopmentMixed-UseMultifamilyNorth CarolinaSingle-Family RentalSoutheast

Beechwood Carolinas Breaks Ground on 120-Acre Mixed-Use Development in Chapel Hill

by John Nelson

CHAPEL HILL, N.C. — Beechwood Carolinas, a division of The Beechwood Organization, has broken ground on South Creek, a 120-acre mixed-use development in Chapel Hill. Located at 119 US Highway 15 501 S, the campus will comprise 92 apartments, 606 condominiums, 100 townhomes, 52,000 square feet of retail space and an 80-acre nature preserve with walking trails. An estimated 15 percent of South Creek’s for-sale homes will be designated as affordable. Additionally, the property will feature amenities including a fitness center, multiple club and lounge areas, a dog park and firepits, as well as multiple electric vehicle charging stations and bike parking spaces. Beechwood Carolinas plans to begin vertical construction in early 2025.

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentLoansMultifamilySingle-Family RentalSoutheast

JLL Arranges $52.7M Construction Financing for Build-to-Rent Project on Florida’s Space Coast

by John Nelson

PALM BAY, FLA. — JLL has arranged a $52.7 million construction loan for Havens at Palm Bay, a 266-unit build-to-rent residential development on Florida’s Space Coast. Max La Cava, Pier Barinci and Shane Ciacci of JLL arranged the non-recourse loan on behalf of the borrowers, Stellar Communities and Adam America Real Estate (AARE). Additionally, JLL arranged an undisclosed amount of joint venture limited partner (LP) equity on behalf of the borrowers. The sources for the debt and equity capital were not disclosed. Havens at Palm Bay will feature one-, two- and three-bedroom casita-style units fronting a natural lagoon. Amenities will include a resort-style pool, clubhouse, tot lot, dog park, self-storage and detached parking, as well as walkability to a newly built Publix. Stellar and AARE plan to deliver the property in 2026.

Continue Reading
FacebookTwitterLinkedinEmail
RangeWater-Corinth
Build-to-RentDevelopmentSingle-Family RentalTexas

RangeWater Real Estate to Develop 121-Unit Build-to-Rent Project in Corinth, Texas

by Taylor Williams

CORINTH, TEXAS — Atlanta-based RangeWater Real Estate will develop a 121-unit build-to-rent residential project in Corinth, located in the northern-central part of the metroplex. RangeWater is developing the property, which spans 14.6 acres, in partnership with NTT Urban Development Corp. The development will feature three- and four-bedroom townhomes that will range in size from 1,451 to 1,800 square feet. Amenities will include a pool, open-air pavilion, grilling stations, a fire pit, dog park and a walking trail. Construction is scheduled to begin later this month and to be complete in the second quarter of 2026.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsBuild-to-RentMidwestNebraskaSingle-Family Rental

CBRE Arranges Sale of 85-Unit Build-to-Rent Community in Suburban Omaha

by Kristin Harlow

ELKHORN, NEB. — CBRE has arranged the sale of The Trails, an 85-unit build-to-rent community in the Omaha suburb of Elkhorn. The sales price was undisclosed. Located at 19111 Grand Ave. and completed this year, the property features a range of four- and five-bedroom floor plans averaging 1,814 square feet. Ted Abramson, Mark Seger and Jeremy Fink of CBRE represented the undisclosed seller. Curtis Capital Group was the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
Old-River-Place-Bakersfield-CA
AcquisitionsBuild-to-RentCaliforniaSingle-Family RentalWestern

Bascom Group Buys Old River Place Build-to-Rent Community in Bakersfield, California for $56.6M

by Amy Works

BAKERSFIELD, CALIF. — Bascom Group has acquired Old River Place, a build-to-rent single-family multifamily property in Bakersfield’s Southwest submarket, from an undisclosed seller for $56.6 million, or $227,444 per unit. Annette Rice and Jamie Kline of JLL arranged the debt financing for the acquisition with TPG Real Estate Finance Trust as the lender. Mark Bonas of The Mogharebi Group led the firm’s investment sales team that represented the undisclosed seller. Apartment Management Consultants will provide property management services and SD-CAP will provide construction management. Old River Place features 249 two- and three-bedroom apartments in a low-density, single-family residential-style community.

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentConference CoverageFeaturesMultifamilyNorth CarolinaSingle-Family RentalSouth CarolinaSoutheastSoutheast Feature Archive

Build-to-Rent Sector Remains in a Sweet Spot, Say InterFace Panelists

by John Nelson

CHARLOTTE, N.C. — Build-to-rent (BTR), or purpose-built neighborhoods of single-family rental homes, has been an emerging subsector of the multifamily continuum the past several years. The housing type fills a niche for renters as it offers more living space and privacy than typical apartments, but is more affordable and amenitized than for-sale homes. The BTR sector began its ascent during the early years of the COVID-19 pandemic when a confluence of factors —the rise in work-from-home and hybrid work schedules, an increase in household formation of younger millennials, the desirability of more private space including garages and backyards — led to a sharp increase in demand for single-family rental (SFR) homes. Underpinning the increased demand for BTR living is the unaffordability of homeownership for a large swath of Americans. As of mid-year, home prices are now 47 percent higher than they were in early 2020, according to Harvard’s Joint Center for Housing Studies. Home insurance premiums have also risen aggressively in the recent past — up 21 percent between 2022 and 2023, according to the study. Meanwhile, mortgage payments are increasingly untenable as interest rates have also risen dramatically in recent years. For these reasons, institutional investors are actively participating …

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentGeorgiaMultifamilySingle-Family RentalSoutheast

Parkland Residential Begins Vertical Construction for 114-Unit Build-to-Rent Community in Lawrenceville, Georgia

by John Nelson

LAWRENCEVILLE, GA. — Parkland Residential has begun vertical construction at Sugarloaf Landing, a 114-unit build-to-rent residential community underway in Lawrenceville, a northeast suburb of Atlanta. Situated on 10 acres at 3440 Sugarloaf Parkway, the property will include rear-entry stacked townhomes, with each unit featuring two or three bedrooms and a one-car garage. Parkland Residential says that the townhomes will span between 1,600 for a two-bedroom home and 1,950 square feet for a three-bedroom unit, with monthly rental rates starting at $2,400. Prim Properties will begin leasing at the property in October. In addition to the townhomes, Sugarloaf Landing will feature a swimming pool with a cabana, playground, nature preserve, sidewalks and pocket parks.

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentLoansSingle-Family RentalTexas

IPA Arranges $19.1M Construction Loan for Build-to-Rent Residential Project in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $19.1 million construction loan for Villas at Bardin, a build-to-rent residential community that will be located in the central metroplex city of Grand Prairie. Homes will feature a mix of unit types and will be furnished with quartz countertops, stainless steel appliances, walk-in closets and full-size washers and dryers, as well as two-car garages and individual yards. The borrower is Dallas-based Republic Property Group. The number of units and a tentative completion date were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts