BTR Daily - January 24, 2025 - NexMetro recapitalizes BTR portfolio for $300 million

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NEWS ROUNDUP

FINANCING: NexMetro recapitalizes BTR portfolio. NexMetro has successfully recapitalized an 849-unit BTR portfolio in a transaction valued at $300 million. The portfolio, comprising four Avilla-branded communities—Canyon, Magnolia, Gateway, and Eastlake—is located in Phoenix, AZ, and the Denver metro area. The recapitalization included $160 million in insurance capital managed by Blackstone, along with a preferred equity investment from Artemis Real Estate Partners. JLL facilitated the transaction, with a team led by Kevin MacKenzie, Brad Miner, Michael Joseph, Matthew Putterman, and Chris Shea representing NexMetro.

DISPOSITION: Strata SFR sells 159-lot development in North Carolina. Strata SFR has announced the successful sale of a 159-lot residential development in Charlotte, NC. This transaction, between private developer BH Land and buyer Red Cedar Homes, aims to address the region's increasing demand for high-quality housing options suitable for both homeowners and investors. "This project reflects Strata SFR’s commitment to addressing the growing demand for quality housing in Charlotte while serving the needs of regional builders like Red Cedar and private developers like BH Land” - Adam Stern, Strata SFR.

DISPOSITION: Northmarq sells 42 units. Northmarq has successfully brokered the sale of the Residences at Old Hawthorne, a luxury 42-unit community in Columbia, MO. Dominic Martinez, Parker Stewart, Alex Malzone, Charlie McKee, and David Garfinkel brokered the sale.

AWARD: Good + West wins excellence award. Good + West Residential has received the MHN Excellence Award for Design and Development in the SFR category for Perch Denton, a 194-unit community in Denton, TX. Elizabeth Good, Partner at Good + West Residential, expressed great pride in the recognition.

READ: Diby Homes is being sold for parts to Brookfield Properties.

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28.46 Acres | Plans for 241 Units | Gated Community | Preliminary Plans Approved by the City

60 Units | 2-Car Garages | Backyards with Patios | Avg. Unit Size: 1,628 SF

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