BTR Daily - October 27, 2026 - New Growth Living secures $53M refi for 211-home BTR in California

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NEWS ROUNDUP

FINANCING: New Growth Living secures $53M refi for 211-home BTR in California. New Growth Living has secured a $53M refinancing loan from Lument for a 211-home build-to-rent community in Sacramento, CA, according to Yardi Matrix data. Arbor Realty Trust previously provided a $50M permanent loan and a $46M construction loan for the community, which New Growth Living developed with Montgomery Street Partners and Rockpoint Group. Described as Sacramento's first BTR development when it opened, the community has 128 one- and two-story buildings on more than 19 acres, mostly duplex homes plus eight townhomes ranging from 726 to 1,501 square feet. Residents share a clubhouse, fitness center, pool and outdoor barbecue area.

DEVELOPMENT: Greystar opens 348-residence rental community with SFR homes in Texas. Greystar and partner Whitman Peterson have opened a 348-residence rental community in Red Oak, TX, about 20 miles south of downtown Dallas. The community mixes one- and two-bedroom apartments with three- and four-bedroom single-family rental homes, some with large fenced yards and private patios. Residents share a fishing pond and paved loop trail that the City of Red Oak asked Greystar to preserve and open to the public, plus a resort-style pool and fitness center. Kendall Hatch, director at Greystar, called the community a retreat from the big city that is still a short drive from Dallas.

ACQUISITION: Hillpointe acquires Reno site for 90 BTR townhomes and apartments. Hillpointe has acquired a 23.5-acre site in Reno, NV, for a 358-home rental community that includes 90 build-to-rent townhomes, its first project in Nevada. The three-bedroom townhomes will have attached two-car garages, alongside 268 two-bedroom apartments in 12 buildings, a clubhouse, pool, fitness center and pickleball court. Steven Campisi, co-founder and managing partner of Hillpointe, said Reno has become one of the most dynamic economies in the West and its workers deserve high-quality, affordable homes close to their jobs. Ryan Krueger of Land Advisors Organization represented Hillpointe.

DEVELOPMENT: Ryan Residential completes 195-home BTR for NexMetro in Arizona. Ryan Residential Contractors has completed construction of a 195-home build-to-rent community for NexMetro Communities on about 16 acres in Phoenix, AZ, near Loop 101 in the West Valley. The single-story homes have one to three bedrooms averaging 967 square feet, with private entrances, front porches and backyards, and residents share a resort-style pool, spa and dog park. Trez Capital provided a $47.4M construction loan, according to Yardi Matrix data. The community is NexMetro's 23rd in metro Phoenix, where it has more than 4,000 rental homes.

READ: Treasury proposes BTR exemption from institutional investor ban.

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