BTR Daily - June 17, 2026 - BrightSky Residential launches pre-leasing at 216-home BTR

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NEWS ROUNDUP

DEVELOPMENT: BrightSky Residential launches pre-leasing at 216-home BTR. BrightSky Residential has launched pre-leasing at Sagecrest, a 216-home BTR townhome community in Antioch, California, with first move-ins expected in August 2027. Charles McKeag, President of BrightSky’s California Division, said the project is designed to meet growing demand for rental housing that offers the space and functionality of a single-family home without the obligations of homeownership. Sagecrest is located within one of East Contra Costa County’s fastest-growing corridors and provides access to BART, major transportation routes, and employment centers throughout the East Bay.

ACQUISITION: Strata Equity acquires Raleigh townhome community. Strata Equity has acquired 24 newly completed townhomes from Lennar in the Olde Birch community in Southeast Raleigh, North Carolina, for $6.6 million, with plans to convert the homes into rentals. According to David Michan, Executive Chairman of Strata Equity, Lennar is expected to sell all 80 homes in the community to Strata as construction is completed. Based on the initial transaction, the total acquisition could reach approximately $22.2 million.

FINANCING: Associated Bank provides $8.8 million construction loan. Associated Bank has provided an $8.8 million construction loan for The Carillon at Grafton, a BTR community in Grafton, Wisconsin. Cirrus Property Group is the borrower. The project will be built on a 5.2-acre vacant site near Hunters and Mountain lanes and will include 34 homes across 10 buildings, with 28 two-bedroom units and six three-bedroom residences. Homes will feature open floorplans, first-floor primary suites, private fenced backyards, and one- or two-car attached garages. Construction is underway, with first occupancy expected in early 2027. Danielle Maletzke of Associated Bank managed the loan arrangements and closing.

MANAGEMENT: ResiHome partners with McKinley Homes to manage nearly 1,000 BTR doors. ResiHome, the property management division of RESICAP, has formed a strategic partnership with McKinley Homes to manage eight communities across the Southeast. The agreement adds nearly 1,000 doors to ResiHome’s portfolio this year, with the companies planning to grow the partnership to 5,000 doors within three years. Mentor Sokoli, President of ResiHome, said the partnership aligns with the company’s goal of providing best-in-class service to residents and owners, while Jinsong Yang, Founder and Managing Partner of McKinley Homes, said ResiHome’s platform will allow McKinley to focus on building high-quality homes while ensuring strong property operations.

READ: Sun Belt dominates US BTR construction pipeline.

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58 Units | Class A | 75% Occupancy

129 Units | Completed in 2021 | Avg. Leased Rent: $1,841 | 2-Car Garages

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