BTR Daily - July 29, 2025 - Trilogy Investment celebrates vertical construction milestone at Arizona BTR

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NEWS ROUNDUP

DEVELOPMENT: Trilogy Investment celebrates vertical construction milestone at Arizona BTR. Trilogy Investment and Pinnacle Partners have officially launched vertical construction on Rêve at Avondale Station, a 107-unit BTR community in Avondale, Arizona. “This new development in an up-and-coming area underscores our commitment to adding rental communities to this growing region,” said Jason Joseph, CEO and Partner at TIC. Leo Backer, Managing Partner at Pinnacle Partners, added, “This ribbon cutting celebrates the hard work that goes into turning vision into reality.” The homes will feature two- and three-bedroom layouts equipped with smart home technologies, including solar panels, reinforcing the project’s forward-looking design. Amenities will include a clubhouse, resort-style pool, and dog park, all contributing to a community-first living experience. Rangewater Real Estate has been tapped as the property manager, bringing its resident-focused approach to service and operations. Gina Davis, SVP at TIC, highlighted the importance of the resident experience in BTR communities: “We are delighted to partner with Rangewater to provide future residents with an exceptional level of high-quality support.” The project reflects TIC’s growing footprint in Arizona and its mission to deliver purpose-driven BTR developments that align with economic growth and evolving lifestyle needs. Backed by Opportunity Zone capital, Rêve at Avondale Station also advances Pinnacle Partners’ goal of driving long-term impact in emerging markets through smart, sustainable real estate.

DEVELOPMENT: Tricon opens 46-home BTR community in Texas. Tricon Residential has officially opened Tricon Viridian, a 46-home BTR neighborhood in Arlington, Texas, within the 2,500-acre Viridian master-planned community. The project expands Tricon’s Texas footprint to nearly 1,100 BTR homes delivered or under development statewide. “Tricon Viridian offers families the space and privacy of a detached home, along with access to outstanding amenities, excellent-rated schools and strong employment centers — all without the financial burden of traditional homeownership,” said Andy Carmody, Senior Managing Director and Chief Sustainability Officer at Triconn. Blackstone invested $15 million in the development, working alongside HHS Residential and Johnson Development. David O’Neill, Managing Director at Blackstone Real Estate, said, “Tricon Viridian and other communities in our pipeline make single-family living more attainable for people across the state and country.”

DEVELOPMENT: Galloway & Company receives approval for 424-home community. The Greeley City Council has unanimously approved the rezoning of 49 acres in west Greeley to pave the way for The Village at Greeley, a new 424-unit BTR development by Galloway & Company. The site will be transformed into a resort-style rental community offering one- to three-bedroom homes ranging from 655 to 1,313 square feet, with monthly rents between $1,600 and $2,500. “There’s a huge housing crisis, and this is something that can potentially solve that problem,” said Brian Friel, representing the developer. Friel described BTR communities as a modern substitute for the disappearing "starter home," which he argued is no longer financially viable due to land costs and municipal fees.

EXPANSION: Onboard launches software for SFR management. Onboard has launched Onboard One, a fully managed, plug-and-play internet program designed specifically for single-family rental (SFR) portfolios. Targeting scattered-site operators, the new solution aims to simplify internet delivery while maximizing net operating income (NOI) and eliminating operational friction across large-scale portfolios. Unlike traditional marketing agreements or third-party bundled services, Onboard One offers a single, pre-vetted portfolio-wide contract that grants access to multiple top-tier internet providers — all coordinated under one bill, one partner, and one point of contact. According to the company, the program is ready to deploy in 90 days or less. “We’ve seen strong demand from SFR owners looking for a simpler, smarter way to offer internet at scale,” said Kerri Russell, VP of Strategic Operations at Onboard. “With Onboard One, owners get a single partner and a single contract while still unlocking access to multiple ISPs. It’s about reducing complexity and increasing NOI.”

READ: Morningstar DBRS releases its May SFR performance summary for rated securitizations.

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