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BTR Daily - June 17, 2025 - Ravello JV secures $58M

BTR Daily - June 17, 2025 - Ravello JV secures $58M

CoreVest provides $28.7M. East West Partners JV debuts BTR project on Daniel Island. Trilogy Investment promotes new director. BTR homes reach record completions. Two new BTR deals.

Matt H & Aid Sopjani
June 17, 2025

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NEWS ROUNDUP

FINANCING: Ravello and AHA secure $58 million for 191-unit BTR. A joint venture between Ravello Holdings and Affordable Housing Access has secured $58 million in construction financing from KeyBank for Maison’s Village II, a 191-unit affordable BTR project in Palmdale, California. The capital stack also includes a $30 million permanent loan and $1.6 million in soft financing from the California Housing Finance Agency, along with $36.8 million in LIHTC equity from WNC & Associates. Targeting households earning 30–70% of the area median income (AMI), the one- to four-bedroom single-story homes will average 59.7% of AMI and feature wood-frame construction with vinyl siding and pitched roofs.

FINANCING: CoreVest provides $28.7 million for 145 properties. Brendan Hamilton, VP at CoreVest, announced that CoreVest has funded a 145-property rental portfolio across Baltimore, Maryland. The funding came in the form of a $28.7 million loan. Triniti Boykin and Daniel Klosk of CoreVest were also involved with the funding.

DEVELOPMENT: East West Partners and Holder Properties debut BTR project on Daniel Island. East West Partners and Holder Properties have unveiled Fenland, a luxury BTR townhome community located on 5.5 acres within the 37-acre Nowell Creek Village in Charleston’s Daniel Island. The marsh-front development features 50 three- and four-bedroom townhomes offering high-end finishes, spacious layouts, and resort-style amenities. “Each residence offers the spaciousness and sophistication of a for-sale home, paired with the flexibility of a rental,” said Graham Worsham of East West Partners. The homes, now leasing, range from 2,100 to 2,400 square feet across six floor plans and include upscale features such as large kitchen islands, stainless steel appliances, quartz slab backsplashes, walk-in closets, covered porches, and attached two-car garages. Monthly rents start at $4,804.

PEOPLE MOVES: Trilogy Investment promotes new director. Trilogy Investment has promoted Harrison Bell to Director of Investments and Structured Credit. In his new role, he will lead strategic investments, deal structuring, and credit-related initiatives for the firm. “I’m excited to accept a new role with a company that has already poured so much into my career,” Bell said. “I will be able to pivot my focus toward investments and dive right into Trilogy’s credit programs.” Austin Lee, Vice President of Investments, praised Bell’s dedication, stating, “From day one, Harrison has put his all into acquiring projects and consistently stays on top of new trends in the housing market.”

READ: BTR homes reach record completions.