BTR Daily - July 8, 2025 - Peninsula Capital acquires 959 SFR homes

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NEWS ROUNDUP

ACQUISITION: Peninsula Capital expands US SFR portfolio with 959-unit acquisition. Peninsula Capital has acquired a 959-home SFR portfolio across four high-growth Midwest markets: Kansas City, St. Louis, Indianapolis, and Columbus. The move nearly doubles the firm’s U.S. holdings and marks a key step in its strategy to scale in economically resilient, high-demand regions. Prior to the deal, Peninsula owned 1,168 homes in Buffalo, Rochester, and Cleveland. With the latest acquisition, its total U.S. portfolio now exceeds 2,200 units. “This acquisition marks a major milestone in our growth strategy,” said Mike Appelton, CEO of Peninsula Capital. “The Midwest offers strong fundamentals—affordable housing, job stability, and high rental demand—that align with our data-driven approach.” The portfolio includes 2-, 3- and 4-bedroom homes averaging 1,100 square feet, located in established neighborhoods near schools and transit. The stabilized assets boast strong occupancy and are expected to generate immediate cash flow.

DISPOSITION: Cushman & Wakefield arranges sale of 130 units. Cushman & Wakefield has sold Allure on Enterprise, a 130-unit BTR community in Florida. Cushman & Wakefield’s Nick Meoli, Joey Blakley, Mike Donaldson, and Errol Blumer handled the transaction.

DEVELOPMENT: RSK to develop 156-unit BTR complex in Texas. RSK Real Estate Partners has acquired 9.37 acres near the Market at Katy Park for a new 156-unit BTR duplex community, according to NewQuest Properties. The unnamed project will consist of 103 three-bedroom and 53 two-bedroom duplex units, averaging 1,600 square feet. Construction is expected to deliver the first homes by mid-2026.

FINANCING: Trez Capital provides $58 million for phase one of 5,700-home MPC. Trez Capital has funded $58 million in financing to launch Preservation Creek, a massive 3,000-acre master-planned community underway in Alvin, Texas. The loan recapitalizes the project and funds horizontal infrastructure for the first phase — including roads, utilities, and key development groundwork. Preservation Creek is being developed by Houston-based W Land Development, marking its first collaboration with Trez Capital. Phase one spans 367 acres, with plans for more than 700 single-family lots, whereas the entire project ultimately aims to deliver 5,700 homes across single-family, duplex, and BTR products. “Preservation Creek represents the kind of thoughtfully planned, large-scale residential development that aligns with the long-term housing demand we’re seeing across the Houston MSA,” said John Hutchinson, Co-CEO & Global Head of Origination at Trez Capital.

READ: Sun Belt cities dominate the BTR housing wave.

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BTR FOR SALE

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80 Units | Avg. Rent per Unit: $1,928 | Built in 2023 | 98% Occupancy | Asking Price: $18,800,000 | Asking Price per Unit: $235,000

146 Units | First Deliveries in February 2026 | 1- and 2-Car Garages | 3- and 4-Bedroom Floorplans

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