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BTR Daily - March 21, 2025 - CushWake brokers sale of 601-unit portfolio

BTR Daily - March 21, 2025 - CushWake brokers sale of 601-unit portfolio

Walker & Dunlop sells 354-home BFR portfolio. Avanti launches Avanti Residential Development. BB Living announces opening of 108 units. Two new BTR deals.

Matt H & Aid Sopjani
March 21, 2025

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NEWS ROUNDUP

DISPOSITION: Cushman & Wakefield brokers sale of 601-unit portfolio. Cushman & Wakefield has arranged the historic sale of a 601-unit SFR portfolio located across the Fargo/West Fargo/Moorhead metropolitan area, spanning North Dakota and Minnesota. The portfolio, featuring Class A homes with three- to five-bedroom layouts, was acquired by an affiliate of Christianson Companies from Meridian Mortgage. Kevin Phelan, Senior Director at Cushman & Wakefield, emphasized the strength of the investment, stating: "This portfolio represents an exceptional collection of single-family rental homes in a market experiencing robust demand. With a modern housing stock averaging just over seven years old and below-market rents, the assets are positioned for strong appreciation."

DISPOSITION: Walker & Dunlop sells 354-home BFR portfolio. Walker & Dunlop has facilitated the sale of the Stanley Martin BFR Portfolio II, a 5-property, 354-home, BTR portfolio across the Atlanta, Charlotte, Charleston, Orlando and Greenville MSAs. Walker & Dunlop’s Telly Fathaly, Chris Goldsmith, Cameron Dunn, and Riley Hall arranged the sale.

EXPANSION: Avanti launches Avanti Residential Development. Avanti has launched Avanti Residential Development, a dedicated division aimed at executing ground-up multifamily and BTR developments across key U.S. markets. This expansion strengthens Avanti’s vertically integrated investment platform, allowing the company to control site selection, design, and construction while maximizing operational efficiencies. Kyle J. Henderson, a seasoned industry leader with over 20 years of experience in multifamily development, has been appointed to lead the new division. "Integrating in-house development into our investment and management platform provides Avanti with a distinct competitive advantage," said Christian Garner, President & CEO of Avanti Residential.

DEVELOPMENT: BB Living announces opening of 108-unit Arizona community. BB Living has unveiled its latest community, BB Living Desert Ridge—a collection of 108 luxury rental townhomes in the highly sought-after Desert Ridge neighborhood of Phoenix, Arizona. BB Living Desert Ridge will begin leasing on March 15, with move-ins starting mid-April. Monthly rental rates begin at $2,710. The community spans 12.4 acres and features spacious three- and four-bedroom townhomes, each designed for comfort and convenience.