Single-Family Rental

Haven Realty Capital Acquires Harrison Landing Townes Community in Simpsonville, South Carolina for $30.6M

by Julia Sanders February 17, 2021

SIMPSONVILLE, S.C. — Haven Realty Capital has acquired Harrison Landing Townes, a 166-unit townhome community in Simpsonville, for $30.6 million. Haven partnered with CenterSquare Investment Management to acquire the property. The homebuilder of the single-family rental community was not disclosed. Harrison Landing Townes is located on an 18-acre site at 106 McGuires Place, 21 miles southeast of downtown Greenville. Each of the two-story, 1,564-square-foot townhomes will feature three-bedrooms, two-and-a-half baths, an attached garage, vinyl plank floors, stainless steel appliances, granite countertops, tile backsplash and nine-foot ceilings on the first floor. Community amenities include a dog park, playground and a walking trail. The remaining homes will be acquired in phases from the homebuilder over the next 15 months. The project is expected to be fully stabilized by June 2022. Haven is acquiring the homes as the phases are being completed. The first phase is almost 100 percent occupied. CenterSquare Investment Management is a global investment manager based outside Philadelphia. Haven Realty Capital is a Los Angeles-based real estate investment and management firm.

February 17, 2021

Single family rental SFR build for rent BFR space Walker Dunlop

Build-to-Rent Content Partner Features Multifamily Single-Family Rental Walker & Dunlop

Walker & Dunlop Predicts Growth for Single-Family Rental, Build-for-Rent Asset Class

by Sarah Daniels February 9, 2021

The single-family rental (SFR) and build-for-rent (BFR) space is emerging as one of the strongest growth sectors in commercial real estate. While the SFR market has made up a portion of the rental market for many years, historically individual and small-scale investors have dominated the market. Institutional investors have only invested in the space for the last 10 to 12 years since the end of the Great Recession. Demand for SFR has been steadily increasing due to current demographic trends related to Gen Y and baby boomers; however, migration patterns related to COVID-19 have accelerated that demand. SFR growth is expected to outpace multifamily, office, retail, storage and hospitality growth by 2022. As the demand for more SFR properties grows, an increasing number of larger investors are expanding their investment strategy to include the product. With the SFR asset class gaining more attention, the BFR sub-segment is playing an emerging role in large-scale investors’ portfolios. The SFR market is estimated at $3.4 trillion, compared to $3.5 trillion for the multifamily market.1 Institutional investors make up less than 2 percent of the SFR market compared to 55 percent for the multifamily market. As more young families, families with children and retirees …

February 9, 2021

Development Multifamily Single-Family Rental Texas

Avanta Residential to Develop 216-Unit Single-Family Rental Community in Austin

by Taylor Williams February 5, 2021

AUSTIN, TEXAS — Avanta Residential, an affiliate of Hunt Cos., will develop a community of 216 single-family rental homes within The Colony, a 2,300-acre master-planned community in Austin. Communal amenities will include a clubhouse and pool, walking trails with fitness stations, open play areas and playgrounds. Avanta plans to break ground in the near future and to deliver the homes for rent in 2022. Alliance Bank of Arizona is providing construction financing for the project.

February 5, 2021

Development Florida Multifamily Single-Family Rental Southeast

North American Development Group to Construct 252 Single-Family Rental Homes in Boca Raton

by Alex Tostado January 21, 2021

BOCA RATON, FLA. — North American Development Group will construct 252 for-rent single-family homes at the former site of Mizner Trail Golf Course in Boca Raton. The West Palm Beach, Fla.-based developer acquired the 127 acres from residential and resort developer Concord Wilshire Capital for $33.2 million. Concord Wilshire will have a participation interest in the development, which will be located on the west and east sides of Camino Del Mar between Camino Real and SW 18th Street. The single-family homes and townhomes will be divided into seven gated communities supported by one common amenity center. Kevin O’Grady of Concord Summit Capital advised Concord Wilshire in the land sale. A timeline for construction was not disclosed.

January 21, 2021

Development Florida Hospitality Multifamily Single-Family Rental Southeast Top Stories

Dart Interests to Redevelop 1,100-Acre Resort Bordering Walt Disney World in Orlando

by Kristin Harlow January 13, 2021

ORLANDO, FLA. — Dart Interests has unveiled plans to redevelop Villas at Grand Cypress in Orlando into a massive vacation rental resort and hotel project named Evermore Orlando Resort. The 1,100-acre resort is adjacent to Walt Disney World. At full buildout in 2023, the 10,000-bedroom project will represent an equity investment in excess of $1 billion. Evermore’s first phase will include nearly 1,500 rooms spread across single-family rental homes, villas, flats and hotel guestrooms. Plans call for 69 houses ranging in size from five to 11 bedrooms. “Dart is introducing an entirely new hospitality category that will change the landscape of vacation rental homes,” says Christopher Kelsey, president of Dart. “We are creating the first-ever wholly owned, large-scale community of purpose-built vacation rental homes and operating them with hotel-quality standards.” According to Kelsey, Dart’s approach to this project solves the main problem for vacation renters — uncertainty in the quality of the home. The centralized ownership model ensures the same quality for each residence, as opposed to most other vacation homes that are owned by individuals. In addition to vacation homes, the complex will also include 76 four-bedroom flats, 41 two- and four-bedroom villas and a Conrad hotel, which is …

January 13, 2021

Acquisitions Illinois Midwest Multifamily Single-Family Rental

Haven Realty Capital Buys Single-Family Rental Community in Naperville, Illinois for $18.5M

by Kristin Harlow January 8, 2021

NAPERVILLE, ILL. — Haven Realty Capital continues to build its single-family rental portfolio with the $18.5 million acquisition of Ashwood Place in Naperville. Ashwood Place is one of the first dedicated rental communities (DRC) in the Chicagoland area. A DRC is similar to a single-family housing subdivision except that it caters solely to renters. These types of communities are growing in popularity, particularly among residents who cannot afford to purchase a home but desire a neighborhood feel, according to Haven. Each of the 60 homes at Ashwood Place feature a two-bedroom, two-bathroom floor plan spanning 1,350 square feet. The community was 95 percent leased at the time of sale. Justin Ross, Matt Ishikawa, Bill Howe and David Guenther of CBRE represented the undisclosed seller.

January 8, 2021

Development Georgia Multifamily Single-Family Rental Southeast

American Homes 4 Rent Opens 127-Home Rental Community in Loganville, Georgia

by Alex Tostado July 21, 2020

LOGANVILLE, GA. — American Homes 4 Rent has opened Stone Creek Community, a 127-home rental community in Loganville. The community comprises single-family homes that feature fenced-in backyards and three-to five-bedroom floor plans ranging from 2,000 to 3,000 square feet. Rents will start in the $1,600s. Each home offers granite countertops, stainless steel appliances, vinyl plank flooring, central heating and air conditioning and two-car garages. The community will also feature a clubhouse, pool, fitness center and a playground. Additionally, routine front and backyard maintenance is included. Stone Creek Community is situated at 5031 U.S. Highway 81, 38 miles east of downtown Atlanta.

July 21, 2020

Acquisitions Arizona Multifamily Single-Family Rental Western

Inland Real Estate Acquires Five Rental Home Properties in Metro Phoenix

by Amy Works March 16, 2020

SURPRISE, TOLLESON, LITCHFIELD PARK AND PHOENIX, ARIZ. — Oak Brook, Ill.-based Inland Real Estate Acquisitions, on behalf of an affiliate of The Inland Real Estate Group of Companies, has acquired five Christopher Todd Communities in the Phoenix metro area. The portfolio includes 943 single-family rental homes. Three communities — Christopher Todd Communities On Greenway in Surprise, Christopher Todd Communities At Country Park in Tolleson and Christopher Todd Communities On Camelback in Litchfield Park — were included in the closing on Friday, March 13. The purchase of Christopher Todd Communities At Marley Park in Surprise and Christopher Todd Communities At Stadium in Phoenix are pending and slated to close in the near future. The communities were the first Christopher Todd Communities to be constructed as the company began its development of “smart-gated” communities offering pet-friendly one- and two-bedroom, single-family homes with private backyards and resort-style luxury amenities. Trevor Koskovich, Jesse Hudson and Bill Hahn of NorthMarq represented the buyer and seller in the deal. James DuMars and Griffin Martin of NorthMarq’s Phoenix office arranged acquisition financing for the buyer.

March 16, 2020

Development Multifamily Single-Family Rental Texas

AHV, Bristol Group Underway on 250-Home Rental Community in San Antonio

by Taylor Williams July 18, 2018

SAN ANTONIO — A partnership between two California-based firms, AHV Communities and Bristol Group Inc., is underway on Pradera, a project in San Antonio that will deliver single-family homes exclusively for rent. The gated community will be located near the Alamo Ranch development on the city’s west side and feature 250 three- or four-bedroom residences with private front and backyards. The project will also deliver an amenity center with a clubhouse, community kitchen, pool, fitness center, a dog park and walking trails. Preleasing will begin during the third quarter and move-ins are expected to commence during the fourth quarter.

July 18, 2018

Market Reports Michigan Midwest Midwest Market Reports Multifamily Single-Family Rental

Positive Economic, Demographic Trends Fuel Detroit’s Apartment Rental Market

by Kristin Harlow July 12, 2018

Throughout metro Detroit, employment and population gains are bolstering apartment demand. Following the creation of 40,200 jobs one year ago, employers in the metro area added 22,200 people to payrolls during the past four quarters. The hiring brought the unemployment rate to 4.5 percent in March, down 10 basis points year over year. The tighter rate may make it more difficult for some employers to find qualified workers to fill openings. During the past 12 months, the hospitality sector led hiring with 8,200 additional workers. New hotel openings contributed to the increase. Sustained job growth has helped to boost the metro population by nearly 11,700 people and 6,600 households over the past year. Many of these residents are opting to rent, as rising home prices place homeownership beyond the reach of more households. During the past five years, the median price of a single-family home has soared 68 percent to $177,053 as of March. Highly amenitized homes or properties in desired areas such as downtown Detroit, Troy or Royal Oak, have much higher median prices, making renting a more affordable option in numerous areas of the region. Construction concentrations Multifamily construction is gaining traction in the suburbs. Completions in the …

July 12, 2018

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