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BTR Daily - July 31, 2025 - Apartment Core arranges sale of 18-unit community

BTR Daily - July 31, 2025 - Apartment Core arranges sale of 18-unit community

NewStar and Red Cedar Homes to develop 133 units. Dominium acquires land. Dechert advises Pretium. US SFR index 2025. Two new BTR deals.

Matt H & Aid Sopjani
July 31, 2025

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NEWS ROUNDUP

DISPOSITION: Apartment Core arranges sale of 18-unit community. Apartment Core has arranged the sale of Hillside Townhomes, an 18-unit BTR community in North Carolina. The community was sold for $4,050,000 ($225,000/unit). Apartment Core's Mike Siciliano, Wayne Braren, Eric Pagnozzi, and Justin Reilly handled the sale.

DEVELOPMENT: NewStar and Red Cedar Homes to develop 133-unit community in Georgia. NewStar is expanding its Sun Belt BTR footprint with a new 133-unit community planned for Braselton, Georgia. The firm has partnered with Red Cedar Homes, a North Carolina-based homebuilder, to deliver the project. Construction is set to begin this quarter, with the first homes expected to be completed by spring 2026. First Carolina Bank is providing construction financing, with Patterson Real Estate Advisory Group arranging both the debt and the joint venture equity for the deal.

DEVELOPMENT: Dominium acquires land for 304-unit BTR in Arizona. Dominium has acquired a 26-acre site in Surprise, Arizona, where it plans to develop Allasso Ranch, a 304-unit BTR community. The project will include an even split of 152 three-bedroom and 152 four-bedroom homes. According to AZBEX, eight units of each type will be in single-story buildings, while the remaining 288 units will be spread across two-story buildings. All homes will feature private backyards, with community amenities such as playgrounds, a swimming pool, and other outdoor gathering spaces. Todd & Associates is serving as the project architect and landscape planner, while WD Construction will act as the general contractor.

MARKET: Dechert advises Pretium on $778.5 million securitization. Dechert has advised Pretium on its $778.5 million securitization. Dechert’s legal team was led by global finance partners Ken Hackman and Jon Gaynor, with support from associates Dan Latella, Mallory Morris, and Jessica Warshaw.

READ: US SFR index 2025.