BTR Daily - February 12, 2025 - AvalonBay to invest over $1 billion in BTR

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NEWS ROUNDUP

EXPANSION: AvalonBay to invest over $1 billion in BTR. AvalonBay Communities is intensifying its focus on the BTR sector, planning to invest over $1 billion through both acquisitions and development. AvalonBay President and CEO Benjamin Schall emphasized that the expansion aligns with AvalonBay’s strengths in operations and development. Stew Royer, AvalonBay’s Senior Vice President of Investments and Structured Investments, elaborated on the company’s vision, stating that BTR communities allow AvalonBay to grow alongside its residents while maintaining a commitment to high-quality, professionally managed rental housing. AvalonBay currently owns over 3,000 townhome rentals.

EXPANSION: North Texas Property Management signs up new locations. North Texas Property Management has announced its expansion into several North Dallas suburbs, including The Colony, Keller, Burleson, Crowley, Coppell, and Sachse. Jason Marascio, CEO of North Texas Property Management, emphasized the significance of this expansion, stating, "As we enter a new year, the popularity of the North Dallas suburbs has not slowed down. It's just getting started. We are excited to grow with the area. We've launched several new town and city website pages. The possibilities for families and investors continue to get better here. And we are ready to help."

DEVELOPMENT: Jim Chapman announces new BTR community in Georgia. JCCG has announced plans to construct a 365-unit BTR community in Richmond Hill, GA. The development will be situated on 48 acres within the 7,000-acre master-planned community of Heartwood at Richmond Hill. The project will feature a mix of attached and freestanding homes, offering both ranch-style and two-story floor-plans to cater to diverse resident preferences. Construction is set to commence in August 2025, with the development being executed in two phases. Phase I will include the construction of 213 lots, with Phase II following immediately thereafter.

DEVELOPMENT: Balcara and PCCP to build 196 units in Tampa. Houston-based Balcara Group, in partnership with PCCP, has acquired over 35 acres in Wimauma, FL, to develop Balcara at Southshore Bay, a community comprising nearly 200 homes. The development is situated within the Southshore Bay master-planned community, approximately five miles east of Interstate 75, providing residents with convenient access to employment centers in Tampa, St. Petersburg, and Bradenton. The homes will range from 1,372 to 1,663 square feet, each featuring a fenced-in backyard. Community amenities include an on-site fitness center, dog park, and playground. Construction is underway, with the first units expected to be available by August 2025.

READ: 110,000+ SFR units underway in the US.

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