BTR Daily - May 5, 2026 - Northmarq arranges sale of 103 units

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NEWS ROUNDUP

DISPOSITION: Northmarq arranges sale of 103 units. Northmarq has arranged the sale of Waterside at Rice Hope, a 103-unit BTR in Savannah, Georgia. Northmarq’s John Currin, Peter Chacon, Luis Magdaleno, Austin Jackson, Jason Nettles, Andrea Howard, Jeff Glenn, James Dorsett, and Jack Konas handled the sale.

DISPOSITION: IPA brokers sale of BTR for $45.85 million. Marcus & Millichap announced the sale of a 140-unit BTR community in Peoria, Arizona, for $45.85 million, or $327,500 per unit. Steve Gebing and Cliff David of IPA, a division of Marcus & Millichap, represented seller Thompson Thrift and procured the buyer.

DEVELOPMENT: TBBG breaks ground on 132-unit Phoenix BTR. TBBG Investments has broken ground, alongside Titan Development, on a 132-unit BTR townhome community at 35th Avenue and Southern Avenue in South Phoenix after acquiring the 7.8-acre site for about $3.8 million more than two years ago. Andrew Biskind, founder and principal of TBBG Investments, said the firm timed the project to deliver into a tightening supply environment and continues to see strong demand for BTR housing as affordability challenges persist, while Josh Rogers, partner at Titan Development, said TBBG showed strong conviction in both the site and the timing.

FINANCING: Core Spaces and Harrison Street seek $90 million refinance for Texas portfolio. Core Spaces and Harrison Street are seeking about $90 million in refinancing for a Texas-based BTR portfolio, according to reports cited from Green Street News. The financing would support the partnership’s single-family rental assets in Texas and reflects continued lender interest in the state’s BTR market as the two firms expand in the sector.

READ: Federal housing bill freezes financing for BTR projects nationwide.

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