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BTR Daily - May 13, 2025 - Core Spaces expands BTR brand across US

BTR Daily - May 13, 2025 - Core Spaces expands BTR brand across US

ONM to develop 290 units. Cross Lake Partners closes $237 million fund. CoreVest provides $4.05 million. BTR accounted for 97% of AMH's acquisitions. Two new BTR deals.

Matt H & Aid Sopjani
May 13, 2025

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NEWS ROUNDUP

EXPANSION: Core Spaces expands BTR brand across US markets. Core Spaces is accelerating the growth of its Oxenfree BTR platform, now encompassing nearly 3,000 homes across Dallas-Fort Worth, Denver, Nashville, Charlotte, Austin, Raleigh, and Florida’s Gulf Coast. Recent milestones include the full delivery of Oxenfree WeHo in Nashville and move-in availability at Oxenfree Princeton near Dallas, with four additional communities in Dallas and Denver set to begin pre-leasing this year. CIO Cliff Payne emphasized the brand’s focus on walkable, design-driven communities that address evolving housing needs. President Dan Goldberg highlighted Core’s commitment to resident experience, leveraging its success in student housing to reimagine single-family rentals. Future Oxenfree communities are scheduled to launch in Charlotte and Denver in 2026.

DEVELOPMENT: ONM Living to develop 290-unit BTR community in Texas. ONM Living will develop Cottages at Century Farms, a 290-unit BTR community in Anna, Texas. Set on a 23-acre site within a master-planned development, the project will offer studio to three-bedroom homes ranging from 350 to 1,400 SF. Units will include fenced yards, covered porches, granite countertops, stainless steel appliances, smart technology, and full-size washers and dryers. Planned amenities include a fitness center, pool, pickleball and sports courts, a dog park, and walking trails. Leasing is expected to begin in late 2025.

FUNDRAISING: Cross Lake Partners closes $237 million fund. Cross Lake Partners has closed its Cross Lake Real Estate Fund IV with $237 million in equity as of March 2025. The opportunistic fund focuses on residential investments, particularly BTR housing and community developments across the Southwest, Mountain West, and Southeast U.S. regions. Despite falling short of its $400 million fundraising goal, the fund received a notable $60 million commitment from the Contra Costa County Employees’ Retirement Association. Fund IV follows the $328 million raised for its predecessor, Fund III.

FINANCING: CoreVest provides $4.05 million for 37-unit portfolio. Brendan Hamilton, VP at CoreVest, announced that CoreVest has funded a 37-unit SFR portfolio across Houston, Texas. The funding came in the form of a $4.05 million loan.

READ: BTR accounted for 97% of AMH’s acquisitions last quarter.