BTR Daily - December 4, 2025 - Crescent Communities and Heitman launch second JV

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NEWS ROUNDUP

JOINT VENTURE: Crescent Communities and Heitman launch second JV. Crescent Communities and Heitman have formed a second JV to scale Crescent’s single-family BTR platform across Sunbelt and emerging growth markets. The new venture begins with a $240M commitment and can expand to $340M, funding roughly six communities. “We’re proud to deepen our relationship with Heitman to expand the HARMON brand and further establish Crescent Communities as a leader in the single-family BTR space,” said Tony Chen, senior managing director of Crescent’s BTR platform.

MARKET: Investors cite higher rents, lower turnover as BTR demand surges. BTR communities continue to outperform conventional multifamily, driven by higher rents, lower turnover and accelerating demand from renters priced out of homeownership and residents seeking more space and flexibility. Khrista Villegas of Material Capital Partners, Josh Wohlreich of Heyday, Travis Gensley of Start Enterprises, and Kelli Lawrence of Onyx+East report significant growth in the BTR sector due to shifting lifestyle and financial realities.

EXPANSION: Jim Chapman Construction Group expands headquarters. Jim Chapman Construction Group (JCCG) has expanded its headquarters. “This move represents the natural next step in JCCG’s evolution,” said Jim Chapman, president of the firm.

READ: Fannie, Freddie Multifamily caps jump to $88 billion each.

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39 Units | Built in 2025 | Attached Two-Car Garages | Forward Purchase Opportunity

125 Units | 96.8% Occupancy | Built in 2022 | 5.9% Growth on Recent Leases

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