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Category: Build to Rent
Build for rent continues and bigger and bigger investment firms, partnerships and REITs are interested in acquiring these neighborhoods. No doubt Wall Street hedge funds and partnerships are also acquiring these rental neighborhoods.
Here’s the story about Foxchase being sold for $41 million in the Upstate Business Journal. Haven Realty Capital out of Los Angeles has partnered with Plymouth Meeting, PA based CenterSquare Investments to acquire this asset. The home builder is Crescent Homes out of Charleston, SC.
Build to Rent has been an increasing trend across the country as interest by consumers to rent has continued to grow. With the skyrocketing home prices its becoming more of a necessity for many that they rent rather than buy. But there are also many consumers who just like the idea of renting and so we are seeing developers respond to that by building single family home communities that are all rentals.
Blaze Capital Partners out of Charleston has many beautiful rental communities. They are partnering with Greenville-based River Street Partners to develop 200 rental homes on a 66 acre site in Easley.