Build-to-Rent

The Aronson in Fayetteville, Arkansas

The construction of new build-to-rent (BTR) homes hit a record in 2022, with more than 14,500 houses completed, according to a RentCafe analysis of Yardi Matrix data. This is a 47 percent increase in deliveries from 2021.  Now, approximately 44,700 BTR homes are under construction across America, triple the number of new homes completed in 2022. Prior to 2020, RentCafe notes, only about 6,000 BTR units were completed annually. RentCafe cited data from the firm’s sister company, Yardi Matrix. The data includes properties defined as single-family homes for rent that are in build-to-rent, …

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The Keys at Wildwood in Oxford, Florida

OXFORD, FLA. — Blue Vista Capital Management has acquired The Keys at Wildwood, a BTR development situated on 19 acres in Oxford, which is in central Florida. The project is currently being developed in partnership with Belleair Development and Mize & Sefair Development. The Keys at Wildwood will offer 190 single-story, three-bedroom units including features such as in-unit laundry, private patios, and dedicated parking spots. The new community is the sixth built-to-rent community Blue Vista has acquired or developed since 2020. 

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By Jeff Coles, Berkadia Over the last 15 years, even during the Great Recession, single-family rentals continued to deliver excellent returns through appreciation and rental income. As demand for the sector has increased significantly, driven by changing migration patterns, many investors are shifting their investment strategies to include single-family rental/build-to-rent homes (SFR/BTR), also referred to as built for rent (BFR) houses. Development and Interest in SFR/BTR Despite recessionary rumors, development is continuing, often undertaken by some of the leading developers in the for-sale single-family market. Also, institutional investors have shown …

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Village at Pioneer Park in Peoria, Arizona.

PEORIA AND GLENDALE, ARIZ. — Empire Group has secured $120.5 million in financing for two build-to-rent (BTR) communities in the Phoenix metropolitan area. Kyle McDonough and George Maravilla of Tower Capital arranged the financing on both deals. The Scottsdale, Arizona-based developer received a $78.5 million bridge loan to refinance Village at Pioneer Park, a 332-unit BTR community in the northwestern Phoenix suburb of Peoria. Built in 2022, the community includes amenities such as a clubhouse, pool, fitness center, pet wash station and dog park. Empire Group also received $42 million …

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Oxenfree rendering

CHICAGO — Core Spaces, a Chicago-based developer that was founded in 2010 and specializes primarily in student housing, is debuting a build-to-rent brand called Oxenfree. The company also operates out of an Austin, Texas, office. The first two projects will be developed in Princeton, Texas, and Nashville, Tennessee, and will be completed by approximately 2024. Oxenfree properties will also be constructed in Denver, Dallas, Austin and San Antonio, Texas, Tampa and Orlando, Florida, Charlotte and Raleigh, North Carolina, and Chicago. The communities will be developed as single-family and townhome-style dwellings. The …

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WESLEY CHAPEL, FLA. — Resibuilt has acquired GroveParc Townhomes, a 48-acre development site in the northeast Tampa suburb of Wesley Chapel. Max La Cava, Zach Nolan and Manny de Zarraga of JLL Capital Markets represented the seller, an investment group from south Florida called Blue Pointe Builders. Resibuilt will build a 190-unit BTR community called GroveParc Townhomes, which will offer three- and four-bedroom townhomes with garages. GroveParc Townhomes is expected to be completed in January 2025.

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A white single-family home with black accents.

— By Adam Wolfson, CEO and CIO, Wolfson Development Co. — The nation’s decades-long housing shortage and the recent rise of the build-to-rent (BTR) sector are inextricably linked. Although some may debate that one is caused by the other — or at least made worse —  the important point is that the BTR industry was born out of the housing crisis. The socioeconomic implication of homebuying versus renting may inspire an interesting debate, but it’s not germane to the essential fact that the United States does not have enough housing to …

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A drawing of a gray single-story house.

WEATHERFORD, TEXAS — TruLife Communities and Advenir Oakley Capital have started construction on LEO at Bethel Place, a 200-unit build-to-rent (BTR) development in Weatherford, which is 30 miles west of Fort Worth, Texas. TruLife Construction, an affiliate of TruLife Communities, is the general contractor. The community was designed by Gaylen Howard Laing Architects of Arlington, Texas, and will be managed by Advenir Living. LEO at Bethel Place is expected to be completed by December 2024, with the first units delivering in the fourth quarter of 2023. Monthly rentals rates are …

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Rendering of Mosby Avalon Park near Tampa

WESLEY CHAPEL, FLA. — Middleburg Communities has closed on two land parcels for two development projects in Wesley Chapel, about 25 miles northeast of Tampa, Florida. Mosby Avalon Park will be a 338-unit multifamily community, and Hamlet Avalon Park is a build-to-rent (BTR) project with 260 single-family homes, duplexes and townhomes. Construction will begin immediately on Mosby. Middleburg expects to break ground on Hamlet Avalon Park by approximately the second quarter of this year. The Mosby portion of the development is $85.5 million, and Hamlet Avalon Park will cost $79.5 …

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Aerial view of The Aronson

FAYETTEVILLE, ARK. — The ITEX Group and Time Warp Enterprises have released plans for The Aronson, a build-to-rent (BTR) project in Fayetteville that will be anchored by a new moviegoing concept from Austin, Texas-based Alamo Drafthouse Cinema. The 214 units will be available as single-family, duplex or triplex configurations. Amenities will include a clubhouse, fitness center, pool, playgrounds, dog parks and bike parking. The project is anticipated to deliver by 2024. The Aronson will be home to Alamo Drafthouse Cinema + Drive-In, developed via a partnership among Catchlight Entertainment, the …

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