BTR Daily - August 21, 2025 - Northmarq arranges sale of 135 units

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NEWS ROUNDUP

DISPOSITION: Northmarq arranges sale of 135 units. Northmarq has arranged the sale of Annex at Cadence, a 135-unit BTR in Mesa, Arizona. The property was purchased for $49 million ($362,963/unit). Northmarq’s Logan Baca, Jesse Hudson, Trevor Koskovich, and Ryan Boyle handled the transaction.

DEVELOPMENT: Metro Development Group opens BTR in Florida. Metro Development Group has opened SkyMor Southshore Bay Townhomes in Wimauma, a new build-to-rent community offering two-bedroom units from $2,300 and four-bedroom units from $3,300. Lisa Gibbings, senior vice president of Marketing and Communications, said the project responds to growing rental demand: “There’s definitely a sentiment of wanting to rent at this period of time, where folks are still maybe not ready to pull the trigger for homeownership.”

DEVELOPMENT: Chapco to build amenities at Tallahassee community. Chapco Design Build has been selected as general contractor for the amenity package at The Cottages at Capital Circle, a 206-unit BTR community in Tallahassee developed by JCCG. The project includes a 4,000-square-foot clubhouse with fitness center and pool, plus sidewalks, streetlights, and a dog park. “We’re proud to be selected as the general contractor for the amenity package at The Cottages at Capital Circle,” said Jay Kiger, president of Chapco Design Build. He emphasized on-time delivery, budget discipline, and long-term value.

DEVELOPMENT: Center Park Group starts vertical construction at North Carolina BTR. Center Park Group’s Myrtle Beach/Wilmington team has started vertical construction at Banton Village, its fourth build-to-rent community in the region. Located just minutes from downtown Wilmington in Navassa, NC, the project will feature 3- and 4-bedroom homes with two-car garages, private backyards, and patios. Seven homes are already underway, with more than 60 to follow, bringing the team’s total pipeline in the market to four communities and 384 homes under construction.

READ: US SFR index 2025.

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BTR FOR SALE

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56 Units | 2- and 3-Bedroom Plans | Garages | Offering Includes 4.18 Acres of Adjoining Development Land With County-Approved Plans for 44 Units

223 Units | Class A | Forward Sale Opportunity | Scheduled for Delivery in 2026

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