BTR Daily - February 14, 2025 - Ark Homes For Rent opens new Atlanta office

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NEWS ROUNDUP

EXPANSION: Ark Homes For Rent opens new Atlanta office. ARK Homes For Rent has opened a new office in Atlanta, GA, welcoming both new hires and existing staff. As part of its strategic growth, the company has appointed Andy Wu as SVP, Head of Acquisitions. Wu, formerly VP of Acquisitions at ResiBuilt, brings over a decade of experience in real estate investing and acquisitions, with a strong focus on BTR properties. The Atlanta office will also house the finance team led by CFO Wendy W. Gill. John Isakson, CEO of ARK Homes For Rent, highlighted the office opening as a milestone in the firm’s growth. Jordan Kavana, Founder and Chairman, echoed this sentiment.

DEVELOPMENT: Center Park Group working on 196-unit BTR in South Carolina. Center Park Group has begun work on Haven at Wild Wing. Vertical construction is set to begin in mid-February following the completion of water and sewer infrastructure, with the first units expected to be delivered by September 2025. The project marks the latest collaboration between Center Park Group and Maymont Homes, building on successful developments such as Liberty Hall in Goose Creek, SC, and Hanahan Commons in Hanahan, SC. “Working with Maymont Homes has been a rewarding experience, and Haven at Wild Wing is another example of our team staying on budget and on time during a project,” said Jason Esposito, CEO and managing partner of Center Park Group.

FINANCING: Northmarq secures financing for Arizona BTR community. Northmarq’s Debt + Equity team, led by Brandon Harrington, Tyler Woodard, and Alex Horsman, has arranged construction financing through a regional bank for Porter Kyle. A private equity joint venture partner filled the remaining capital stack as a limited partner. Set to break ground this month, the 100-unit townhome development in Chandler, AZ, will feature one-, two-, and three-bedroom units, each with direct access two-car garages and private yards.

FINANCING: JLL facilitates $51 million construction loan. JLL has arranged a $51.2 million construction loan for Mailman Post, a 302-unit BTR community in Knightdale, NC, being developed by Turnbridge Equities. Mailman Post will feature two- through five-bedroom units averaging 1,650 square feet across two- and three-story buildings. Paul Spellman, Chris Peck, and Ward Smith of JLL Capital Markets’ Debt Advisory team represented the borrower in securing the financing.

READ: Private capital fuelling SFR growth.

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60 Units | Built in 2024 | Luxury Detached Homes | Call For Offers on Feb. 26

121 Units | Built in 2024 | 1-Car Garages | 55% Occupancy | $1,934 In-Place Rent

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