BTR Daily - May 15, 2025 - Belleview sells 99 units

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NEWS ROUNDUP

DISPOSITION: Belleview sells 99 units. Belleview has sold Poplin Trace, a 99-unit townhome community in Indian Trail, N.C., to an undisclosed buyer. The property was 93% occupied at closing. Berkadia arranged the transaction, with Managing Director Caleb Troop noting strong demand for townhome-style rentals in the Charlotte market. Completed in 2023, Poplin Trace spans 20 acres and features two- and three-bedroom units ranging from 1,604 to 2,126 SF. The community offers access to major highways and nearby universities, shopping centers, and transit options.

DISPOSITION: JLL brokers sale of 55-unit BTR community in North Carolina. JLL has arranged the sale of a 55-unit BTR community in Charlotte, North Carolina, underscoring strong demand for quality housing in the Carolinas. The transaction was led by Casey Sherman, Max La Cava, and William Martin.

DEVELOPMENT: ONM Living to develop 188-unit community in Texas. ONM Living is set to develop Cottages at Providence Village, a 188-unit BTR community within a master-planned development in Denton County, Texas. The 14-acre project will offer studio to three-bedroom homes ranging from 350 to 1,400 SF, with features like fenced yards, smart home tech, and stainless steel appliances. Community amenities will include a fitness center, pool, pickleball courts, dog park, and walking trails. Leasing is expected to begin in late 2025.

FINANCING: Buckingham Advisors closes $8 million equity placement for Houston BTR. Buckingham Advisors has successfully closed an $8 million Co-GP/LP equity investment for the development of 82 BTR townhomes in one of Houston’s most affluent neighborhoods. Despite capital markets volatility, the firm cited strong fundamentals in the BTR and SFR sectors, especially in high-barrier-to-entry locations like top school districts. Buckingham emphasized that demographic trends continue to support demand for quality single-family rentals and that the slowdown in new supply presents compelling, risk-adjusted return opportunities.

READ: SFR becomes the highest percentage of rental stock.

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BTR FOR SALE

Click each image for more information:

420 Units | Rent PSF: $1.33 | 94.1% Occupancy

126 Units | Built in 2024 | Avg. Unit Size: 1,180 SF | Avg. PSF: $1.67 | 42% Occupancy

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