BTR Daily - May 7, 2026 - Trinitas breaks ground on $80M development

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NEWS ROUNDUP

DEVELOPMENT: Trinitas breaks ground on $80 million development. Trinitas Ventures has broken ground on Laster Farms at Turkey Creek, a new $80 million multifamily development in Knoxville, Tennessee. The project will add 320 residences, including 240 apartments and 80 townhomes, with first move-ins expected by summer 2027. Loren King, CEO and co-founder of Trinitas Ventures, said the development reflects the company’s commitment to building communities that feel both contemporary and enduring, while Eric Wojak, executive VP of BTR and multifamily at Trinitas, said the project is designed to meet the changing expectations of residents in the market. Adrien Dannemiller, co-founder of Millstone Ventures, said the site fits the kind of high-growth, well-located opportunity the firm targets.

DEVELOPMENT: Parkland opens 67-unit BTR in Georgia. Parkland Residential has announced the grand opening of a 67-unit BTR townhome community in Lawrenceville, with first residents scheduled to move in early this month. Jim Jacobi, president of Parkland Residential, said the project is an important step in addressing rising housing demand in Gwinnett County by offering high-quality rental homes as an alternative to traditional homeownership.

FINANCING: TWO and Origin secures financing for 199-unit BTR. TWO Capital Partners and Origin Investments have secured construction financing for Tessa Madison, a 199-unit BTR community in Madison, Tennessee. Patterson Real Estate Advisory Group arranged the undisclosed financing through Invitation Homes, while TWO Resi Build, a wholly owned subsidiary of TWO Capital Partners, will serve as general contractor.

PEOPLE MOVES: Sallee promotes Spencer Yohn to COO. Sallee Development has promoted Spencer Yohn to COO, elevating him from his previous role as VP of Operations. Tyler Sallee, CEO and owner of Sallee, said Yohn has been instrumental in strengthening the company’s operational platform and driving growth, while Yohn said he is honored to take on the new role and continue supporting the team as it delivers new communities.

READ: Why Houston’s BTR sector could slow down under federal housing bill provision.

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