BTR Daily - October 29, 2026 - Berkadia arranges $65.5M for 232-home BTR in Florida

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NEWS ROUNDUP

FINANCING: Berkadia arranges $65.5M bridge loan for 232-home BTR in Florida. Berkadia has arranged $65.5M in bridge financing from Kayne Anderson for Kimaya’s Ocoee Village Townhomes, a 232-home build-to-rent community in Ocoee, FL. The three-year, floating-rate loan will retire construction debt while the property finishes lease-up and moves toward stabilization. Completed in 2024, the 35.3-acre community has three- and four-bedroom townhomes averaging 1,645 square feet, with private garages and amenities including a pool, pickleball courts and a dog park. Wesley Moczul, associate director at Berkadia, led the financing, supported by senior managing director Mitch Sinberg, managing directors Brad Williamson, Scott Wadler and Matt Robbins, and senior analyst Jacob Kelly.

ACQUISITION: Millrose discloses 1,233-home rental portfolio acquired from Lennar. Millrose Properties disclosed in its October 27 quarterly results that it acquired 1,233 completed single-family homes from Lennar across 18 states. The portfolio has an aggregate cost basis of approximately $333M, funded with about $120M of balance-sheet capital and $213M of limited-recourse secured financing. Millrose said it underwrote the acquisition as a standalone rental investment, independent of any future path-to-homeownership initiative. CEO and president Darren Richman highlighted the company’s expanding builder relationships and financing capabilities. The release lists FGS Global’s Stephen Pettibone and Louise Fitzgerald as media contacts. Individual communities and the acquisition closing date were not disclosed.

DEVELOPMENT: Standard starts $88M, 234-townhome affordable rental community in Virginia. Standard Communities has broken ground on Joyfield Towns at German School, an $88M development of 234 affordable rental townhomes in Richmond, VA. Financing includes low-income housing tax credits, tax-exempt bonds, Citibank, U.S. Bank and city support. Joe Ouellette, Standard’s chief operating officer, said stable, affordable housing can help families thrive. Chief development officer Feras Qumseya emphasized the project’s financing and partnerships; Richmond councilmember Nicole Jones and RRHA CEO Steven Nesmith welcomed its affordable housing benefits. Completion is expected approximately 23 months after the October 20 ceremony.

DEVELOPMENT: Center Park delivers first homes at 84-townhome BTR in South Carolina. Center Park Group has delivered the first completed homes at Wellstead at Strawberry, an 84-home build-to-rent townhome community in Moncks Corner, SC, developed by Canvas Residential Partners. The 12.9-acre community near Highway 52 and Old Highway 52 offers three- and four-bedroom homes with attached one- and two-car garages, giving residents access to Summerville, Goose Creek and the greater Charleston region. The first deliveries mark a phased construction milestone, rather than completion of the entire community. Center Park CEO Jason Esposito emphasized cost certainty, reliable scheduling and consistent construction quality.

READ: Capright’s October SFR update: Q2 leasing improves as REITs sell more homes.

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