INMAN, S.C. — TruAmerica Multifamily has purchased a 33-acre site in the Spartanburg suburb of Inman to develop Hartley View, an $86 million build-to-rent community. Brad Morris of New Deco Inc. represented the seller, Converse Development, in the land sale. Hartley View will offer a total 281 units, including 214 townhome units and 67 detached single-family residences. Amenities will include a pool, dog parks, playgrounds, community parks and four acres of open wooded and recreation spaces. TruAmerica Multifamily plans to begin horizontal construction at the site in summer 2024 and …
FORT WORTH, TEXAS — Tower Capital has arranged $72.9 million in construction financing for the development of Village at Golden Triangle, a 317-unit build-to-rent community in Fort Worth. Tower Capital’s Kyle McDonough and George Maravilla arranged the financing on behalf of Empire Group, the project’s Arizona-based developer. The Village at Golden Triangle is situated on 30 acres near North Riverside Drive and Golden Triangle Boulevard in Fort Worth. The community offers one-, two- and three-bedroom floor units with quartz countertops, stainless steel appliances, full-size washers and dryers, smart-home technology, private …
NEW BRAUNFELS, TEXAS — Capital Square and ITOCHU Corp. have formed a joint venture to acquire Creekside Terrace, a build-for-rent community currently being built in the San Antonio suburb of New Braunfels. Pulte Homes is the developer on the project. A development timeline was not disclosed. Creekside Terrace offers 100 units in three- and four-bedroom floor plans, as well as amenities such as a pool, pavilion and park.
AVONDALE, ARIZ. — Mark-Taylor Residential has opened Ironwood Homes at River Run, a 103-unit build-to-rent development in the Phoenix suburb of Avondale. Developed by Sunstone Two Tree, Ironwood Homes at River Run offers units in three- and four-bedroom floor plans. Units feature private side yards, personal two-car garages and smart technology packages. Amenities include a pool spa, fitness center, outdoor kitchen, gated entry and a playground.
MESA, ARIZ. — Mark-Taylor Residential has opened Peralta Vista, an eco-conscious single-family rental project in Mesa. Located at 526 N Ellsworth Rd., Peralta Vista features one- and two-bedroom units homes built with sustainable materials to reduce energy costs and usage by more than 40 percent. According to the property website, amenities include a pool, lounge area, fitness center, game lawn, clubhouse, EV chargers and smart home technology.
OAK CREEK, WIS. — Heyday has broken ground on Heyday Oak Creek, a 130-unit build-to-rent community in the Milwaukee suburb of Oak Creek. Each unit features an attached two-car garage with personal electric vehicle charging outlets, as well as a private patio or covered porch. Floor plans come in one-, two- and three-bedroom layouts ranging from 832 to 1,701 square feet. Amenities include bike and walking paths, as well as a dog park and community garden.
Berkadia Brokers $37.5 Million Acquisition Loan for Build-to-Rent Project in Port St. Lucie, Florida
PORT ST. LUCIE, FLA. — Berkadia has arranged a $37.5 million forward acquisition loan for Tavalo Tradition, a 216-unit build-to-rent development underway in Port St. Lucie. An investment vehicle managed by GTIS Partners purchased the townhome-style community from K. Hovnanian. Scott Wadler and Matt Nihan of Berkadia arranged the financing through an unnamed national bank on behalf of GTIS Partners, which will obtain the capital in draws. Tavalo Tradition will be situated within the 2,500-acre Tradition master-planned community. Units will come in two- and three-bedroom townhomes and average 1,387 to 1,494 …
GEORGETOWN, TEXAS — NexMetro Communities has begun the development of Avilla Berry Creek, a 25-acre build-to-rent complex in the Austin, Texas suburb of Georgetown. Mosaic is the general contractor for the project. Avilla Berry Creek comprises 224 single-family detached homes and duplexes. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool and clubhouse, community garden and a dog park. The total development cost of the project is $66 million.
PHOENIX — Harvard Investments has sold FirstStreet Happy Valley, a 212-unit build-to-rent community in Phoenix. Spruce Capital Group, a private family-owned investment firm, acquired the asset for $87.9 million. FirstStreet Happy Valley offers one-, two- and three-bedroom floor plans with attached and detached garages. The average size of the units is 1,904 square feet. Amenities include a dog park and washing station, a pool, spa, fitness center and clubhouse. The property was built two years ago and was 94 percent occupied at the time of sale.
SURPRISE, ARIZ. — Mark-Taylor Residential and Sunstone Two Tree have completed Sierra Verde, a townhome-style build-to-rent community in the Phoenix suburb of Surprise. Sierra Verde offers two- and three-bedroom homes with attached garages, gated patio entry and smart home technology. The average unit size is 1,331 square feet. Amenities include a pool and spa, a playground and a fitness center.