BTR Daily - February 3, 2026 - JLL secures $33.5M construction loan for 152 units

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NEWS ROUNDUP

FINANCING: JLL secures $33.5 million construction loan for 152-unit BTR. JLL secured a $33.5 million, three-year floating-rate construction loan for a 152-unit BTR Phase I development in LaGrange, Georgia, representing borrower River North Real Estate Partners. The financing was arranged by JLL’s Debt Advisory team led by John Davis, with Hunter Goldberg and Hamp Gibbs. River North Real Estate Partners plans to start construction with completion expected in 2027, and the development sits in a Qualified Opportunity Zone.

FINANCING: Tricon to secure $410.5 million CMBS loan backed by 1,499 units. Tricon Residential is set to receive a $410.5 million CMBS loan backed by 1,490 SFR homes and nine condo units across nine states, according to KBRA. Royal Bank of Canada will sell the interest-only, floating-rate note, with Midland Loan Services as servicer and special servicer and Computershare as trustee. The portfolio—acquired between 2012 and 2024—averages roughly 1,743 square feet and $2,008 in rent as of January, with the largest metro exposure in Atlanta (27.9%), Phoenix (19.1%), Tampa (10.6%), and Charlotte (8.9), while occupancy averaged 96.8% in October versus 95% nationally.

DEVELOPMENT: Quinn Residences delivers first Tampa-area BTR community. Quinn Residences has delivered its first Tampa-area rental community, bringing 284 cottages and townhomes with three- and four-bedroom layouts online in Parrish, Florida. Colleen Yeager, COO of Quinn Residences, said the opening targets population and job growth in the Tampa Bay region and positions the company for additional local investment.

M&A: Invitation Homes acquires ResiBuilt to expand BTR pipeline. Invitation Homes has acquired ResiBuilt Homes for $89 million plus up to $7.5 million in earn-out payments tied to third-party fee-build performance. Jay Byce, co-founder and president of ResiBuilt, and roughly 70 associates are joining Invitation Homes, with the team continuing to operate under the ResiBuilt brand. Dallas Tanner, President and CEO of Invitation Homes, said the deal advances the company’s BTR strategy. The acquisition includes 23 existing fee-building contracts and options to acquire about 1,500 lots, though no land transferred at closing. RESICAP will remain independent; CEO Andy Capps said it will continue its existing SFR/BTR ventures and services but will be restricted from competing with ResiBuilt in ground-up BTR construction. Jones Day advised Invitation Homes, while Alston & Bird and Zelman advised RESICAP.

READ: Institutional ownership of single-family homes, homeownership affordability and the role of BTR.

BTR FOR SALE

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47 Units | Built in 2024 | Avg. Market Rent: $2,949 ($1.71/SF)

Forward Sale Opportunity | 2 Properties | 153 Units

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