BTR Daily - February 19, 2025 - JP Morgan launches BTR company

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NEWS ROUNDUP

EXPANSION: JP Morgan launches BTR company. JP Morgan Asset Management, in partnership with Georgia Capital and Paran Homes, has launched Laseter, a new BTR development company focused on delivering single-family rental communities in high-demand markets across the Southeast. The joint venture is structured with JP Morgan Asset Management’s institutional investors, Georgia Capital, and Paran Homes each owning a 50% stake. Laseter will leverage its in-house land development and homebuilding expertise to construct rental communities, while also providing third-party general contracting services to other BTR developers. The company’s first two developments, totaling 291 homes, will be located in the Atlanta, GA, and Nashville, TN suburbs. Chad Tredway, managing director at JP Morgan Asset Management, emphasized the firm's strategic focus on the BTR asset class, highlighting demographic shifts and job growth in the Sunbelt as key drivers of demand. Whit Marshall, who will serve as CEO of Laseter, underscored the company's mission to provide housing alternatives and capitalize on the early-stage growth of the BTR sector.

DISPOSITION: CBRE sells 39 units. CBRE has facilitated the sale of The Willow Townhomes, a 39-unit BTR development in California. Sold for $17.4 million ($446,154/unit), it marked highest price per unit ever achieved in the city of Ontario. CBRE’s Eric Chen led the team handling the sale.

DEVELOPMENT: Integrity Community Builders completes 13th BTR community. Integrity Community Builders (ICB) has announced the completion of Zetta, a 65-unit BTR community in Arlington, TX. The project is owned by The Nehemiah Company, while ICB served as the construction partner. This marked ICB’s 13th BTR community. Chad Durham, VP of BTR at David Weekley Homes, noted that this is the sixth BTR project completed through the partnership between ICB and The Nehemiah Company.

DEVELOPMENT: Construction underway at 217-unit complex. Legacy MCS is spearheading the construction of The Village at Mayfair, a 217-home BTR community in Texas. Developed by Arizona-based Empire Group of Companies, the project is part of the larger 1,900-acre Mayfair master-planned community, with homes set to become available in late summer or early fall of 2026. “This project not only highlights the growth and potential of the BTR market, but also positions Legacy MCS as a key contributor in this evolving sector,” said Greg Cole, Director of Construction for Legacy MCS.

READ: DFW #2 in the US for BTR properties.

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