BTR Daily - November 9, 2026 - Mandrake stabilizes 134-home BTR community in Jacksonville

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NEWS ROUNDUP

LEASE-UP: Mandrake stabilizes 134-home BTR community in Jacksonville. Mandrake Capital Partners announced that Waterside Townhomes at River City, its 134-home rental townhome community in North Jacksonville, FL, has reached stabilization. The property is Mandrake’s 18th stabilized deal and offers two- and three-bedroom homes across three floor plans, with walk-in closets and dedicated parking. President Ed Oprindick said the community’s performance reflects demand for larger townhome rentals that retain everyday convenience.

DEVELOPMENT: AMH delivers 498 newly built rental homes in Q3. AMH delivered 498 newly constructed homes during the third quarter of 2026: 387 to its wholly owned operating portfolio and 111 to unconsolidated joint ventures. The company also sold 291 properties for $94M in net proceeds. Its same-home portfolio recorded average occupied days of 96.0%. CEO Bryan Smith pointed to resilient rental demand as the company raised its full-year Core FFO guidance.

DEVELOPMENT: Crest Group starts 250-unit rental community in Summerville. The Crest Group has broken ground on Heritage at Summerville, a 250-unit rental development near Charleston, SC. ConnectOne Bank provided $50M in construction financing, with Kevin Santacroce and Kim Cioche working on the deal. Crest’s Daniel Scarda cited the region’s population and employment growth, while Mayor Russ Touchberry welcomed the investment. McDonough & Conroy Architects and Thomas & Hutton are on the project team. Completion is planned in phases from the first through third quarters of 2028.

ACQUISITION: BB Living pays $25M for Denver land with 217 rental homes planned. Scottsdale-based BB Living paid $25M for 16 acres within Denver’s Avenues at Northfield, formerly The Shops at Northfield Stapleton. The developer plans 217 rental townhomes with three or four bedrooms. The parcel sits east of the mall’s main shopping area and currently contains parking spaces and an Off Broadway Shoe Warehouse.

READ: Progress Residential and Pretium propose $49.75M settlement with FTC and states.

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