BTR Daily - April 24, 2025 - NexMetro sells two BTR neighborhoods

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NEWS ROUNDUP

DISPOSITION: NexMetro sells two BTR neighborhoods. NexMetro Communities has completed the sale of two of its BTR neighborhoods in the Dallas-Fort Worth metro area: Avilla Parkway in Celina and Avilla Reserve in Justin. Combined, the two communities comprise 335 single-level, detached rental homes, offering a mix of one-, two-, and three-bedroom floorplans.

DEVELOPMENT: Trilogy begins development of 70-townhome community. Trilogy Investment has officially launched development on Woodland, a new 8.34-acre residential community in Asheville, North Carolina. Located on Woodland Drive in Buncombe County, the project will deliver 70 townhomes, to be constructed by Lennar Homes, marking the national homebuilder’s first entry into the Asheville market. The project is being financed by Setanta Development Capital, with land development led by TIC’s Rêve Development arm. Site work is currently underway, with the first homes expected to be completed by late 2026 and initial move-ins projected for December. "Partnering with Lennar in this region is especially meaningful given the housing challenges following Hurricane Helene," said Jason Joseph, CEO and Managing Partner at Trilogy.

DEVELOPMENT: The Resmark Companies is constructing a 214-unit community in Georgia. The Resmark Companies, in joint venture with Eastwood Homes, has officially commenced construction on Fairlie, a 214-unit BTR townhome community in Cartersville, Georgia. Leasing is set to begin this summer, offering modern, spacious residences designed for today’s renters seeking suburban living with elevated amenities. Each of Fairlie’s three-bedroom townhomes will feature attached garages, private backyards, stainless steel appliances, quartz countertops, and full-sized in-unit laundry, blending comfort and style with functionality.

FINANCING: Hylee Capital secures $8.5 million. Sarah Miskelly announced that Hylee Capital has successfully closed an $8.5 million capital raise for its latest BTR project: a 200-unit community in Ohio. This is Hylee’s fifth BTR deal, backed by a fully integrated team managing construction, lease-up, and long-term operations.

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71 Units | Built in 2024-2025 | Private Backyards | Private 2-Car Garages

230 Units | Built in 2025 | 1- and 2-Car Garages | 55% of Community Features Fenced-In Backyards

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