Build-to-Rent

Empire Group Secures $88.5 Million to Construct BTR Community in Phoenix

by Channing Hamilton July 12, 2023

PHOENIX — Empire Group has secured a $88.5 million construction loan to develop Village at Bronco Trail, a build-to-rent (BTR) community in Phoenix. Kyle McDonough and George Maravilla of Tower Capital arranged the financing. Village at Bronco Trail will comprise 354 units on a 30-acre site. Each unit will feature a private yard, a kitchen with quartz countertops, stainless steel appliances, full-size washers and dryers, and smart-home features. Amenities include detached garages, a dog park, grilling area, resort-style pool, clubhouse and common area open spaces. Empire Group expects to deliver the …

July 12, 2023

GroveParc Townhomes in Wesley Chapel, Florida

Build-to-Rent Development Finance Florida News Southeast

ResiBuilt Secures $38 Million in Construction Financing for BTR Community Near Tampa

by Channing Hamilton June 21, 2023

WESLEY CHAPEL, FLA. — ResiBuilt has received $38 million in construction financing for GroveParc Townhomes, a 190-unit, build-to-rent development located in the Tampa, Florida suburb of Wesley Chapel. Max La Cava, Matthew Putterman and Drew Jennewein of JLL Capital Markets secured the loan through a regional bank. GroveParc Townhomes will offer three- and four-bedroom townhome units with garages and backyards. Amenities include gated access, a clubhouse, pool, fitness center, playground dog park, pickleball courts and a lakeside trail. The project is expected to be completed in January 2025.

June 21, 2023

Build-to-Rent Development Features Midwest News Northeast Southeast Texas Western

RentCafe: Number of New Build-to-Rent Projects is Skyrocketing

by Channing Hamilton June 19, 2023

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, …

June 19, 2023

Build-to-Rent Development Florida Investment Sales News Southeast

Blue Vista Acquires 190-Unit BTR Development in Oxford, Florida

by Channing Hamilton June 16, 2023

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.

June 16, 2023

Berkadia Berkadia Feature Build-to-Rent Content Partner Development Features Industry Content Leasing & Marketing Midwest Northeast Southeast Texas Western

Single-Family Rental, Build-to-Rent Sector Increases Supply Volume, Attracts Institutional Capital

by Sarah Daniels June 12, 2023

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 …

June 12, 2023

Village at Pioneer Park in Peoria, Arizona.

Arizona Build-to-Rent Development Finance News Western

Empire Group Secures $120.5 Million in Financing for Two BTR Communities Near Phoenix

by Channing Hamilton June 9, 2023

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 …

June 9, 2023

Build-to-Rent Company News Development Midwest News Southeast Texas

Core Spaces Launches Build-to-Rent Brand, Plans 8,000-Unit Pipeline

by Lynn Peisner May 1, 2023

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 …

May 1, 2023

Build-to-Rent Florida Investment Sales News Southeast

Resibuilt Acquires 190-Unit BTR Development Site Near Tampa

by Channing Hamilton April 11, 2023

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.

April 11, 2023

A white single-family home with black accents.

Build-to-Rent Industry Voices Midwest Northeast Southeast Texas Western

Why Build-to-Rent is a Win-Win Situation for Renters, Investors

by Channing Hamilton April 3, 2023

— 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 …

April 3, 2023

Build-to-Rent Development News Texas

TruLife Communities, Advenir Oakley Capital Break Ground on BTR Project Near Fort Worth

by Channing Hamilton March 9, 2023

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 …

March 9, 2023

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