OLATHE, KAN. — Chicago-based 29th Street Capital has acquired Chestnut Heights Townhomes in Olathe. The 161-unit townhome community will be managed by 29th Street Living, the company’s property management division. The buyer partnered with New York City-headquartered Basis Investment Group via the firm’s BIG Equity Value-Add Fund II for the acquisition of the property and a capital improvement program. Chestnut Heights is comprised of two- and three-bedroom floor plans.
By Hollie Croft and Nicholas Heckman On July 11, the 21st Century ROAD to Housing Act became law, bringing about several changes designed to increase housing supply and affordability. Section 1001 of the legislation — titled “Homes Are for People, Not Corporations,” creates a sweeping federal prohibition on the acquisition of single-family homes by “large institutional investors,” subject to narrowly defined exceptions. The law represents one of the largest federal interventions in the single-family housing market that we have seen in decades, imposing structural limitations on investment strategies and new …
ST. CLOUD, FLA. — Adam America Real Estate and Stellar Communities have obtained a $35.1 million construction takeout loan for Havens at Hickory Reserve, a newly completed 134-unit townhome build-to-rent community in St. Cloud, about 30 miles south of Orlando. The joint venture secured the financing through lender CoreVest Finance. Walker & Dunlop arranged the loan. Stellar is an Aventura, Florida-based developer, while Adam America Real Estate also is a development firm and is headquartered in New York City. Located at 4896 Stellar Drive, Havens at Hickory Tree Reserve offers …
STOCKBRIDGE, GA. — NexMetro has opened the first units at Avilla Holloway, a 136-unit build-to-rent property on 14 acres in the Atlanta suburb of Stockbridge. The gated neighborhood features single-level, mostly detached homes in one-, two- and three-bedroom floor plans with private entrances, front porches and private backyards. Amenities include a resort-style pool and hot tub, outdoor kitchen and grills, dog park (no breed restrictions), landscaped open spaces, an indoor community meeting space, covered parking, optional garages and a 24-hour maintenance team. A second NexMetro Avilla project in the Atlanta …
KNOXVILLE, TENN. — ARK Homes for Rent has begun pre-leasing at The Reserve at Three Ridges in Northeast Knoxville. The 126-unit community is comprised of two-story townhomes in three- and four-bedroom floor plans with attached garages, open layouts, granite countertops and stainless steel appliances in kitchens, smart home features and walk-in closets. Amenities include a clubhouse, pool, playground and pet park. A construction completion date was not disclosed.
NASHVILLE, TENN. — Forman Capital, a private direct lender, has provided a $49.4 million construction loan for Moda Vista, a 102-unit build-to-rent community at 3320 Curtis St. in the Bordeaux neighborhood of Nashville. The borrower/developer, Moda Homes, is underway on sitework in preparation for vertical construction, which the Illinois-based developer anticipates beginning in summer 2027. Additional project details have not been released.
KENOSHA, WIS. — CBRE has arranged the $7.1 million sale of Bayside Townhomes, a 32-unit community in Kenosha. Campbell Creek Communities LLC was the buyer, and Bayside Townhomes LLC was the seller. CBRE’s Matson Holbrook, Gretchen Richards and Sean Beuche represented the seller in the transaction. Bayside Townhomes is located at 1523 Sheridan Road. The property features three-bedroom floor plans averaging 1,500 square feet. Unit amenities include private entrances, attached garages, patios and balconies and in-unit washers and dryers. The property was 100 percent occupied at the time of sale. …
SURPRISE, ARIZ. — NexMetro Communities has completed and opened Avilla Foothills, a 108-unit build-to-rent development in Surprise, about 28 miles northwest of Phoenix. Avilla Foothills is comprised of single-level homes, some with optional garages, and amenities such as a resort-style pool and hot tub, outdoor kitchen and grills, landscaped open spaces, covered parking, a 24-hour maintenance team, pet parks and no breed or size restrictions for pets.
ROSEVILLE, CALIF. — Zilber Residential Group and Homes by Towne, both affiliates of Zilber Ltd., have opened Estia Roseville, a 209-unit development approximately 20 miles northeast of Sacramento. The one- and two-bedroom single-story homes range from about 709 to 1,083 square feet, and each features a private entrance, walk-in closets, a washer and dryer, stainless-steel appliances and private, fenced-in backyards with built-in dog doors. The community also offers a dog park and a pet spa, along with a pool, clubhouse, 24-hour fitness center and a dedicated yoga studio. Asking monthly …
PORT ST. LUCIE, FLA. — CBI Construction has broken ground on Abrazo at Wylder, a build-to-rent community located in Port St. Lucie. Tampa, Florida-based Third Lake Development LLC is the developer. Upon completion, slated for 2027, the community will feature 264 units and amenities that include a clubhouse, resort-style pool, pickleball courts and more. The development is the first multifamily project within the Wylder master-planned community, which also features new for-sale homes, a senior living community, a golf course and eventually a new public school. Site work at the 31-acre …
