Build-to-Rent

Marea-Noblesville
Build-to-RentFeaturesMidwest

Stars Align for Midwest Build-to-Rent Market as Tenant Demand, Developer Returns Fall in Sync

by Lynn Peisner

By Kristin Harlow Higher rents and lower turnover are a few of the key advantages build-to-rent (BTR) properties have over traditional multifamily product, according to investors. Meanwhile, the sector continues to experience strong demand from tenants priced out of the housing market as well as renters by choice who prefer flexible, maintenance-free living. BTR units typically have all the perks of a single-family home — privacy, garages and yards — without the hassles of landscaping or property maintenance. “The BTR sector is experiencing significant growth because it addresses a genuine …

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Acclaim-of-Woodbury
Build-to-RentFinanceMidwestMinnesotaNews

Interstate Development Refinances Twin Cities BTR Project with $34.3 Million Loan

by Lynn Peisner

WOODBURY, MINN. — Northmarq’s Minneapolis-based team has arranged the $34.3 million refinancing, in the form of a Fannie Mae loan, of Acclaim of Woodbury, a 109-unit build-to-rent community located at 10108 Sunbird Circle in Woodbury, about 9 miles from St. Paul, Minnesota. Interstate Development, the sponsor, completed the project earlier this year. Homes are available with two, three or four bedrooms complemented by shared amenities such as lawncare, snow removal services and a 24-hour fitness center.

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Mills-Creek-Maple-Grove
Build-to-RentInvestment SalesMidwestMinnesotaNews

Curtis Capital Acquires BTR Project in Twin Cities Metro

by Lynn Peisner

MAPLE GROVE, MINN. — CBRE has arranged the sale of Mills Creek, a 66-unit build-to-rent property in Maple Grove, 17 miles northwest of Minneapolis. Curtis Capital Group was the buyer, and the seller was a joint venture between Watermark and PCCP. The sales price was not disclosed. Mills Creek is located at 8601 Goldenrod Lane and was built in 2019. The property features 66 detached homes averaging 1,679 square feet. Community and unit amenities include attached two-car garages, finished basements, private driveways and entrances, a clubroom with entertainment space, a …

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Avilla-Rio-Oaks-Liberty-Hill
Build-to-RentDevelopmentNewsTexas

NexMetro Opens Northwest Austin BTR Development

by Lynn Peisner

LIBERTY HILL, TEXAS —NexMetro, a Phoenix-based build-to-rent (BTR) developer, has opened Avilla Rio Oaks in Liberty Hill, 34 miles northwest of Austin. The property is situated on 25 acres and features 260 detached, one-level single-family homes within a gated community. Avilla Rio Oaks’ units are offered as one-, two- or three-bedroom floor plans with garages or covered parking. Amenities include a resort-style pool and hot tub, grills, lounge areas, a dog park, walking paths and grassy, open space. The community also features an electric vehicle charging station, a 24-hour emergency …

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Tricon-Garland-Texas
Build-to-RentDevelopmentNewsTexas

Tricon Opens Two BTR Projects in the Dallas-Fort Worth Metro Area

by Lynn Peisner

GARLAND, TEXAS — Tricon Residential has opened Tricon Garland, a 257-unit build-to-rent project located at 5488 Sandstone Drive in the northeast Dallas suburb of Garland. The community was developed in partnership with HHS Residential. It offers a variety of three- and four-bedroom floor plans. Units feature two-car attached garages and fenced backyards. Community amenities include a dog park and outdoor spaces for children. Additionally, the joint venture developers also have opened Tricon Saginaw, a separate 166-unit BTR community about miles north of Fort Worth. Tricon Saginaw offers three and four-bedroom …

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Rev3-Athens
Build-to-RentGeorgiaNewsSoutheast

Trilogy Investment Co. Acquires For-Sale Townhome Site, Plans BTR Conversion

by Lynn Peisner

ATHENS, GA. — Trilogy Investment Co. (TIC) has acquired REV3 at Mill Creek, a townhome development project in Athens originally planned as a for-sale community. Trilogy will convert the property to rentals and complete the project by approximately November of this year. TIC has two additional for-sale-to-rental conversion deals expected to close in the next 90 days. Each home will offer three bedrooms and two and a half or three bathrooms, with open-concept layouts, stainless steel appliances, smart home technology and attached garages. Amenities will include walking trails, open green …

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HARMON-Cedar-Run-Lawrenceville
Build-to-RentDevelopmentGeorgiaNewsSoutheast

Crescent Communities Opens North Atlanta BTR Project

by Lynn Peisner

LAWRENCEVILLE, GA. — Crescent Communities has opened HARMON Cedar Run, a build-to-rent (BTR) community in the North Atlanta suburb of Lawrenceville. HARMON is the Charlotte, North Carolina-based developer’s branded BTR product, offered alongside Crescent’s luxury NOVEL brand and RENDER, a portfolio of branded communities designed to serve middle-market renters. HARMON communities are supported through a joint venture partnership with a separate account managed by Heitman, which recently increased its commitment from $235 million to $345 million. HARMON Cedar Run is situated on 38 acres and is comprised of 151 three- …

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Solana-Place-at-Carlton-Commons-Casa-Grande
ArizonaBuild-to-RentInvestment SalesNewsWestern

Northmarq Arranges $30 Million Sale in Casa Grande, Arizona

by Lynn Peisner

CASA GRANDE — D.R. Horton has sold Solana at Carlton Commons to CALCAP Advisors for $30 million. Northmarq’s Phoenix multifamily investment sales team arranged the sale of the 113-unit build-to-rent property, while Northmarq’s debt and equity team arranged a $21.8 million Fannie Mae acquisition loan for CALCAP. Completed in 2023, Solana at Carlton Commons is in Casa Grande, a city about 50 miles south of Phoenix and approximately 70 miles north of Tucson. The community features three- and four-bedroom units averaging 1,381 square feet. Each residence includes stainless steel appliances, …

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Harmony-at-Clear-Creek-Shawnee
Build-to-RentDevelopmentFinanceKansasMidwestNews

MCP, Bluerock Break Ground on Kansas City BTR Development

by Lynn Peisner

SHAWNEE, KAN. — Material Capital Partners (MCP) has secured $77.8 million in financing and begun construction on Harmony at Clear Creek, a 188-unit build-to-rent (BTR) community in Shawnee, 12 miles southwest of Kansas City, Kansas. Bluerock is MCP’s financial partner on the project. Bank OZK provided the construction loan, and Winchester Commercial Group is the general contractor. In addition to the loan, MCP is using equity from its BTR Development Fund I, which also is a funding source for two other BTR projects in the pipeline: Indigo Cove, an 83-unit …

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Canvas-at-Woodbury
Build-to-RentInvestment SalesMidwestMinnesota

Watermark, PCCP Sell Two BTR Properties in Minneapolis Metro

by Lynn Peisner

WOODBURY, MINN. — A joint venture between Watermark and PCCP has sold two build-to-rent communities in Woodbury, 23 miles east of Minneapolis. The sales price and the identity of the buyer were not disclosed. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the sellers, who are the properties’ original developers, in the transaction. Canvas at St. Croix is located at 11483 Crestbury Drive. Completed in 2024, the 89 units feature attached garages, and amenities include a clubhouse, multipurpose room and a resort-style pool. The 81-unit Canvas at Woodbury, located …

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