BTR Daily - December 18, 2024 - Northmarq sells 114-unit BTR

Good morning. This is BTR List, and we help improve lives.

→ We are here to serve the owners, brokers, managers, and capital providers that are interested in single family rentals (SFR) and build-to-rent (BTR) multifamily. Do us a favor, and forward this email to your favorite multifamily pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

DISPOSITION: Northmarq sells 114-unit BTR in Texas. Northmarq has sold The Townhomes at Bluebonnet Trails, a 114-unit community in Texas. Northmarq’s Eric Stockley, Taylor Snoddy, Charles Hubbard, Campbell Brooks, Devin Easom, Cole Heathorn, Brett Barlow, Lauren Bresky, Kevin Leamy and James Currell handled the transaction. Viking Capital was the buyer.

DEVELOPMENT: Jim Chapman Construction Group starts vertical integration on its Georgia BTR. JCCG has begun vertical construction on Noble Vines, a new BTR community in Port Wentworth, GA. Construction began on February 1, 2024, and has progressed with eight buildings framed and the clubhouse drywalled. JCCG President Jim Chapman remarked, "Noble Vines is the perfect example of one of our turnkey projects for an investor/commercial developer."

FINANCING: JLL closes construction loan for NC community. JLL has secured a construction loan for a BTR community in Leland, NC, on behalf of McKee Homes. The JLL team handling the deal consisted of Philip Galligan, Trent Niederberger, Ward Smith and Trent Tompkins. Atlantic Union Bank provided the financing.

FINANCING: Material Capital secures construction loan. Material Capital has secured project financing for River Ford, a 170-unit BTR community in Brunswick, GA. Builders Capital provided a $38 million construction loan, maturing in November 2026 with two extension options. Additional funding was supplied by Bluerock and Stanton Road Capital. Construction is set to begin in February 2025, with Winchester Commercial Group serving as the general contractor.

READ: 90,000 BTR units under development across the US. 

BTR FOR SALE

Click each image for more information:

Portfolio Spread Across 12 TX Cities | 109 Units | 84.4% Occupancy | Built in 2023

102 Units | 93% Occupancy | Built in 2024

ONE MORE THING

→Try our resources for SFR and BTR pros:

Search Properties (beta) | BTR News | Comps (coming soon) | Professional Network (coming soon) | Advertise Listings | Share a Closing Announcement