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BTR Daily - June 5, 2025 - Invitation Homes acquires $40 million worth of townhomes

BTR Daily - June 5, 2025 - Invitation Homes acquires $40 million worth of townhomes

Millburn & Company acquires 125 units. JLL secures $53.9 million in debt. Auben Realty expands to Florida. US single-family rents climb for third month. Two new BTR deals.

Matt H & Aid Sopjani
June 05, 2025

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NEWS ROUNDUP

ACQUISITION: Invitation Homes acquires $40 million worth of townhomes. Invitation Homes has acquired 152 townhomes in Wendell, North Carolina, for $41.4 million. This purchase is part of the Glennon at Wendell development, which comprises 228 townhomes and 312 apartments.

ACQUISITION: Millburn & Company acquires 125-unit townhome community in Utah. Millburn & Company has acquired Touchstone Townhomes, a 125-unit BTR community in Magna, Utah, from D.R. Horton. The townhomes, located next to Horton’s 260-unit Ascend at Little Valley apartments—sold by the same team last year—have been among the fastest lease-ups nationally for the developer. The deal was brokered by an investment sales team consisting of Mark Jensen, Darren Nielsen, Seth Weaver, Mark Numbers, Luke Mata, Rachel Smith, Jared Whipple, and Amy Conrad, with debt and equity advisory led by Nate Barnson, Ben Vroman, Bracken Ostler, and Jeremy Dawson.

FINANCING: JLL secures $53.9 million in debt for 290-unit project in Texas. JLL has successfully closed a $53.9 million debt placement for Woodlands Terrell, a 290-unit BTR development located in Terrell, Texas. Developed by Altura Homes and financed by LendingOne, the project spans 75 acres and features individually parceled homes with private, enclosed yards—a growing preference in the BTR space. The transaction was led by JLL’s Sam Tarter, Mackenzie Jones, and Michael Gurwin, who credited strong collaboration between all parties for a smooth execution.

DEVELOPMENT: Auben Realty expands to Florida. Auben Realty is crossing state lines to test the waters in Florida with project managing a 45-home BTR community in Jacksonville.

READ: US single-family rents climb for third straight month.