BTR List
Posts
BTR Daily - June 3, 2025 - Berkadia closes $566 million in SFR and BTR deals

BTR Daily - June 3, 2025 - Berkadia closes $566 million in SFR and BTR deals

Taylor Morrison breaks ground on 400 units. 29th Street begins pre-leasing. JCCG delivers first units. 2025 SFR index. Two new BTR deals.

Matt H & Aid Sopjani
June 03, 2025

Good morning. This is BTR List, and we work the sources.

→ We are here to serve the owners, brokers, managers, and capital providers that are interested in single family rentals (SFR) and build-to-rent (BTR) multifamily. Do us a favor, and forward this email to your favorite multifamily pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

DEALS: Berkadia closes $566 million in SFR and BTR deals. Berkadia has announced that it has closed over $566 million in SFR and BTR transaction volume year-to-date. The deals span 14 property sales totaling $343 million, and 18 financing deals worth $223 million, led by a team including Mark Forrester, Greg Smith, Andrew Curtis, Brett Moss, and Tyler Swidler. The platform now operates in more than 65 markets nationwide, reflecting a sharp rise in investor demand for institutionally managed, for-rent housing.

DEVELOPMENT: Taylor Morrison breaks ground on 400 units. Taylor Morrison has officially begun construction on Esplanade at Red Rock, a 400-unit SFR community located on 88 acres at the western edge of Las Vegas, within the sprawling 22,500-acre Summerlin master-planned community. The homes will feature contemporary Palm Springs-inspired designs, ranging from 1,550 to 3,000 square feet with two to four bedrooms and garages accommodating up to four vehicles. “We did intensive market research to get the correct buyer segmentation addressed to best serve this community,” said Bill Renteira, VP of Sales for Taylor Morrison Las Vegas.

DEVELOPMENT: 29th Street begins pre-leasing for 201-home BTR in Arizona. 29th Street Development has announced the official pre-leasing launch of Verge, its newest BTR community located in Apache Junction, Arizona. First residents expected to move in by July 2025. Set on a 20-acre site in a designated Opportunity Zone, Verge is a Class A rental community featuring 201 modern homes. “Verge represents a new pathway for those seeking both tranquility and adventure,” said John Kitson, Executive VP of Development at 29th Street Capital. “Our residents will experience the ease of modern living with a dynamic twist, perfectly capturing the essence of Arizona’s unique spirit and charm.” Construction began in May 2023, with the full buildout targeting completion by mid-2025.

DEVELOPMENT: JCCG delivers first units at Alabama BTR. Jim Chapman Construction Group (JCCG) has officially delivered the first Certificates of Occupancy (COs) at Nestledown Farm, a 201-unit BTR community in Huntsville, Alabama. The milestone marks the first completed homes in this cottage-style rental neighborhood. Construction on the 29-acre site began in September 2023, with vertical construction launching in June 2024. The first move-ins are already underway as 182 homes remain in active construction across multiple phases.

READ: 2025 SFR index.