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BTR Daily - March 26, 2025 - Tower Capital arranges 3 loans totaling $83 million

BTR Daily - March 26, 2025 - Tower Capital arranges 3 loans totaling $83 million

JLL arranges $55 million. Vida raises $47 million. ARK Homes completes 200-unit project. Surge in SFR inventory. Two new BTR deals.

Matt H & Aid Sopjani
March 26, 2025

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NEWS ROUNDUP

FINANCING: Tower Capital arranges 3 loans totaling $83 million. Tower Capital has further solidified its presence in the growing BTR sector by arranging three new loans totaling $83 million. The financing will support the development of BTR communities in Texas, Arizona, and Colorado—three of the most active markets for rental housing demand. The financing was originated by Kyle McDonough, Managing Partner and Co-Founder; George Maravilla, Partner; David Stull, Vice President; and Noah Schott, Capital Advisor.

FINANCING: JLL arranges $55 million financing for luxury BTR community in Illinois. JLL has successfully arranged a combined $55.6 million in construction and mezzanine financing for Park5 Luxury Rental Townhomes, a 144-unit core BTR community located in Deerfield, Illinois. The financing package includes a $45.7 million senior construction loan secured through Bank OZK and a $9.9 million mezzanine loan from a blue-chip insurance company. The borrower, VennPoint Real Estate, is spearheading the development. The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Matthew Schoenfeldt and Director Mary Dooley, while Managing Director Dan Reynolds and Managing Director Chris Cummins led the land transaction and leasing advisory efforts.

FUNDRAISING: Vida raises $47 million for multifamily and BTR developments. Atlanta-based real estate development firm Vida has completed its seed funding round for Vida Opportunities Fund I, a $47 million vehicle that will back both multifamily and BTR projects across Georgia. The fund is now open to qualified investors, registered investment advisors, and broker-dealers, and features a subsidiary that accepts Roth IRA conversions. The fund will finance the construction of two multifamily communities and one BTR project located in Atlanta’s Upper Westside and Buford, one of the region’s fastest-growing suburbs. “Our vision is to build up our communities, fulfilling lives,” said Joe Martinez, President of Vida.

DEVELOPMENT: ARK Homes completes 200-unit project. ARK Homes For Rent has officially opened Walker Point, its newest BTR community in Brunswick, Georgia. The 237-unit townhome development spans 25 acres and was celebrated with a ribbon-cutting ceremony late last week. Offering two- to four-bedroom layouts, homes at Walker Point start at $1,649 per month and feature granite counter-tops, spacious kitchens and living areas, energy-efficient stainless steel appliances, and in-unit washer/dryers.

READ: Surge in SFR inventory.