TUCSON, ARIZ. — Greystone has arranged a $14 million debt placement for the refinancing of Linda Vista Luxury Rentals, a build-to-rent residential community in Tucson. Completed in 2024, Linda Vista features 64 residences, a pool and spa/hot tub. Shana Daby and Rebecca Reich of Greystone sourced the transaction, while Thomas Wayda and Dante DiStefano of Greystone handled the debt placement. The financing, which includes a 36-month term, was provided by an undisclosed lender.
PEARLAND, TEXAS — Los Angeles-based PCCP LLC is underway on construction of a 109-unit build-to-rent residential project in the southern Houston suburb of Pearland. Skymor at Pearland will consist of 58 four-bedroom homes with an average size of 1,938 square feet; 29 three-bedroom residences with lofts that will average 1,866 square feet; and 22 three-bedroom units with no lofts that will span 1,763 square feet on average. All homes will include two-car garages. Communal amenities will include a playground, dog park and nature trails. PCCP has partnered with Integrity Community Builders on the project, and the first homes are expected to be available for occupancy by February 2025. Barkley Development sold the 13-acre site on which the project will be developed after acquiring the acreage in 2023 and handling the entitlement process and establishing infrastructure.
HUNTSVILLE, ALA. — Jim Chapman Construction Group has begun vertical construction at Nestledown Farm, a 201-unit build-to-rent residential community in Huntsville. The townhome community is situated on a 29-acre site on Zierdt Road adjacent to the Redstone Arsenal Army base. Jim Chapman Construction broke ground on Nestledown Farm last fall and expects first residents will move in next spring. The property will offer five different floor plans for two- and three-bedroom townhomes ranging in size from 1,020 to 1,466 square feet and with one- or two-car garages. Jim Chapman Construction is also underway on the property’s amenities, including a 4,000-square-foot clubhouse, swimming pool, fitness center, dog park, illuminated sidewalks, gated entrance and onsite property management.
CHARLESTON, S.C. — East West Partners and Holder Properties have broken ground on Fenland, a 50-unit build-to-rent community located on Daniel Island in Charleston. The townhome property will be situated on 5.5 acres within Nowell Creek Village, a 36-acre waterfront community. Upon completion, Fenland will feature three- and four-bedroom, three-story rental townhomes ranging in size from 2,100 to 2,400 square feet. Amenities will include two-car attached garages, a private swimming pool, community grill and fire pit and a landscaped courtyard along with access to Daniel Island’s network of trails, a community dock and park and planned waterside dining and retail options. East West Hospitality will manage Fenland, which will begin preleasing in early 2025 with move-ins expected by spring 2025.
WARNER ROBINS, GA. — Parkland Residential has secured a $57 million loan for the financing of Grover Landing, a build-to-rent (BTR) residential community underway in Warner Robins, roughly 20 miles south of Macon, Ga. The loan will be used to refinance completed homes at the development, which will total 317 units. Residences at the community range from two to four bedrooms in size. Amenities at the development include a swimming pool with a cabana, playground, pocket parks and a playfield, as well as yard maintenance, pest control, home repairs and appliances. Avi Kozlowski, Thomas Wayda and Dante Distefano of Greystone arranged the financing through Encore Finance. Additionally, Synovus Bank will provide construction financing for newly built homes.
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.
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.
Affordable HousingBuild-to-RentDevelopmentMixed-UseMultifamilyNorth CarolinaSingle-Family RentalSoutheast
Beechwood Carolinas Breaks Ground on 120-Acre Mixed-Use Development in Chapel Hill
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.
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.
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.